CASH BUDGETING

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October 20, 2018 at 7:45 pm #479335
kijane
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I seek explanation

“Trade creditors will allow accounts to be settled in the month following that in which goods are supplied.”

So for example i purchased goods on 2 october 2018 when will accounts be settled
October 21, 2018 at 9:23 am #479350
John Moffat
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Goods supplied in October will be paid for in November 🙂

(The exact date of payment within the month is of no relevance in the exam, because you would only ever be budgeting on a monthly basis).

I do suggest that you watch my free lectures on budgeting.
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