Schedule of Payments for Purchases. Mayfield Company anticipates purchases for the next quarter as follows: January, $30,000,
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Schedule of Payments for Purchases. Mayfield Company anticipates purchases for the next quarter as follows: January, $30,000, February, $50.000: March. $60,000. Purchases in December totaled $20,000. Thirty percent of the amount purchased is paid for in the month of purchase and 70 percent in the month following purchase. Prepare a schedule of payments for purchases for each month and for the next quarter.
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