Thomas lIger has opening creditors of £2,900 (£400 October, £1,200 November, £1,300 December). Creditors will be paid three months in arrears. Credit purchases in January will be £2,000 rising by £200 per month until March and then suffering a 10% decline in April and remaining constant.

Required:

Prepare T. Iger’s creditors budget for January to June. LO1