19

CI 6 Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $94,000; May, $124,000; and June, $134,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $36,000. Prepare a schedule of budgeted cash payments for April, May, and June. eBook April May June 70% Current month purchases Ending accounts payable Total purchases 30% May June Zisk Co. Schedule of Cash Payments For April, May, and June April Cash payments for: Current month purchases Prior month purchases Budgeted cash payments for materials