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Can someone explain me how to solve this question? I feel so dumb…
AICPA.921135BEC-P2-AR
Lon Co.’s budget committee is preparing its master budget on the basis of the following projections:
Sales $2,800,000
Decrease in inventories 70,000
Decrease in accounts payable 150,000
Gross margin 40%
What are Lon’s estimated cash disbursements for inventories?$1,040,000.
$1,200,000.
$1,600,000.
$1,760,000. correctFAR - 73, 78 (WileyCPAexcel 3,000+ MCQs, 50 SIMs)
AUD - 73, 81 (WileyCPAexcel 3,000+ MCQs, 40 SIMs)
BEC - 71, 71, 74, 84 (WileyCPAexcel 3,000+ MCQs, 10 SIMs)
REG - 84 (WileyCPAexcel 2,000 MCQs, 15 SIMs)CA Ethics Exam - 94%
NEVER GIVE UP.
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