Star Moving Systems,Inc.has provided the following details for direct materials purchased on account in different months.
$$\begin{array} { l l }
\text { Jan } & \$ 35,000 \
\text { Feb } & 3 , 0 0 0 \
\text { March } & 3 4 , 0 0 0 \
\text { April } &3 9 , 0 0 0 \
\text { May } & 3 2 , 0 0 0 \
\text { June} & 2 9 , 0 0 0
\end{array}$$ The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month.Calculate the payments on account made during the first six months.

Question

Star Moving Systems,Inc.has provided the following details for direct materials purchased on account in different months.
 $$\begin{array} { l l } 
\text { Jan } & \$ 35,000 \
\text { Feb } &  3 , 0 0 0 \
\text { March } & 3 4 , 0 0 0 \
\text { April } &3 9 , 0 0 0  \
\text { May } & 3 2 , 0 0 0  \
\text { June} &  2 9 , 0 0 0
\end{array}$$ The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month.Calculate the payments on account made during the first six months.

Quizplus · Accepted Answer

The Answer of Star Moving Systems,Inc.has provided the following details for direct materials purchased on account in different months.
 $$\begin{array} { l l } 
\text { Jan } & \$ 35,000 \
\text { Feb } &  3 , 0 0 0 \
\text { March } & 3 4 , 0 0 0 \
\text { April } &3 9 , 0 0 0  \
\text { May } & 3 2 , 0 0 0  \
\text { June} &  2 9 , 0 0 0
\end{array}$$ The terms of payment offered by the suppliers are to pay 70% in the month of purchase and 30% in the following month.Calculate the payments on account made during the first six months.

Star Moving Systems,Inc The Terms of Payment Offered by the Suppliers Are to Purchased