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A company budgeted the following purchases for raw materials: MonthJanuaryFebruaryMarchAprilMayJuneJulyBudget$10,000$20,000$25,000$22,000$27,000$30,000$24,000 The company has a policy of paying for 40% of the purchases in the month
A company budgeted the following purchases for raw materials:
MonthJanuaryFebruaryMarchAprilMayJuneJulyBudget$10,000$20,000$25,000$22,000$27,000$30,000$24,000
The company has a policy of paying for 40% of the purchases in the month of purchase, 35% in the month following the purchase, and 25% in the second month following the purchase.
Based on this information, what are the budgeted cash disbursements for May?
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