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1 2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $93,000; May, $123,000; and June, $133,000. Cas payments for purchases are: 75%

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Zisk Company purchases direct materials on credit. Budgeted purchases are April, $93,000; May, $123,000; and June, $133,000. Cas payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. Purchases for March are 583,000 Prepare a schedule of cash payments for direct materials for April, May, and June. Jasper Company has 64% of its sales on credit and 36% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $520,000 for April, $530,000 for May, and $555,000 for June. Total sales for March are $299,200. Prepare a schedule of cash receipts from sales for April, May, and June

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