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5 7/20 Goliath Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500 August $39,600 September $45,800 October $49,400 All purchases are
5 7/20
Goliath Company prepared the following purchases budget:
Month | Budgeted Purchases |
June | $35,600 |
July | $42,500 |
August | $39,600 |
September | $45,800 |
October | $49,400 |
All purchases are paid for as follows: 30% in the month of purchase, 45% in the following month, and 25% two months after purchase.
What are the cash disbursements in August to account for the June purchases at Goliath Company?
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