20 q 14

14 Torres Company budgets merchandise purchases of $14,800 in January, $17600 in February, and $20,200 in March. For those purchases, 40% of purchases are paid in the month of purchase and 60% are paid in the month after the purchase. The company purchased $29,000 of merchandise in December Prepare a schedule of cash payments for merchandise for the months of January February, and March 5 points Book TORRES COMPANY Cash Payments for Merchandise Purchases January February March Merchandise purchases $ 14,800 $17.000 $ 20.200 Cash payments for Current period purchases Prior period purchases Total cash payments for merchandise purchases