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MC algo 18-27 Calculating Payments JoAnn Manufacturing has projected the following sales for the coming year:...

MC algo 18-27 Calculating Payments

JoAnn Manufacturing has projected the following sales for the coming year:

Q1 Q2 Q3 Q4
Sales $ 54,300 $ 61,100 $ 69,600 $ 75,150


The company places orders each quarter that are 25 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter?

Multiple Choice

  • $18,783.13

  • $18,325.00

  • $16,691.67

  • $17,862.50

  • $15,983.33

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