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The firm X has a 45 day accounts payable period. The firm has expected sales of $1,800, $2,500, $2,600 and $2,800, respectively, by quarter for the next calendar year. The cost of goods sold for a quarter is equal to 55% of the next quarter sales. What is the amount of the projected cash disbursements for accounts payable for Quarter 3 of the next year? Assume that a year has 360 days.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91569734

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