7 10 points eBook QS 20-26A (Algo) Merchandising: Cash payments for merchandise LO P4 Garda purchased $530,000 of merchandise in August and budgets merchandise purchases of $790,000 in September. Merchandise purchases are paid as follows: 25% in the month of purchase and 75% in the month after the purchase. Prepare a schedule of cash payments for merchandise purchases for September. GARDA Schedule of Cash Payments for Merchandise Purchases Merchandise purchases Cash payments for: Hint Current period purchases Prior period purchases References Total cash payments for merchandise purchases September $ 790,000