TickTock Ltd is a small company that sells antique clocks. The following budgeted information is available for the five months ending 31 October.

Each clock costs $12.50. Each month 25 per cent of the purchases are expected to be on a cash basis. A total of 60 per cent of the amount owed to the trade payables is expected to be paid after one month. The remainder is expected to be paid after two months. 

Prepare a trade payables budget for TickTock Ltd for each of the three months ending 31 October.

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June July August September October Expected purchases of clocks 60 80 120 100 80