The Collins Company purchases blankets from suppliers and th…
The Collins Company purchases blankets from suppliers and then resells them; the company recently prepared a purchases budget that included the following for total purchases: June $177,000 July $178,000 August $131,000 The company pays for 70% of purchases in the month of the purchase and the remaining 30% in the month following the purchase. For July, what is the total dollar amount to be paid to suppliers?