20 e 7

7 B Ahmed Company purchases all merchandise on credit. It recently budgeted the month and accounts payable balances below. Cash payments on accounts payable during each month are expected to be June, $1,400,000: July, $1,350,000; and August $1,400,000 Hint: Use the relation (Beg Accounts Payable + Purchases on Credit Payments on Accounts Payable - End Accounts Payable) to solve for budgeted purchases. Hay una 30 July 31 August Accounts payable $ 170,000 180,000 $200,000 $ 140,000 co June August Computing budgeted merchandise purchases from accounts payable Budgeted amounts July Ending accounts payable Add Cash paid on accounts payable Total accounts payable Loss Beginning accounts payable Budged merchandise purchases les