(Answered) Question - abc company pays for merchandise by paying cash

Accounting

Question - ABC Company pays for merchandise by paying cash and using credit: Credit purchases equal 80% of the purchases. Of those purchased on credit the purchases are paid for as follows: 60% in the current month, 35% in the month following, and 5% in the second month following. Assume January purchases are $65000. How much of the January purchases are paid for in January?

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