20 q 13

13 Garda purchased $580,000 of merchandise in August and budgets merchandise purchases of $670,000 in September. Merchandise purchases are paid as follows: 35% in the month of purchase and 65% in the month after the purchase. Prepare a schedule of cash payments for merchandise purchases for September, 5 point GARDA Schedule of Conh Payments for Merchandise Purchases September Merchandise purchases $ 670,000 Cash payments for Current period purchases Prior period purchases Total cash payment for merchandise purchases Hint ference