ABC Company's raw materials purchases for June, July, and August are budgeted at $45,000, $35,000, and $60,000, respectively. Based on past experience, ABC expects that 30% of a month's raw material purchases will be paid in the month of purchase and 70% in the month following the purchase. Required: Prepare an analysis of cash disbursements from raw materials purchases for ABC Company for August Budgeted raw material purchases August cash payments: Current month's purchases Prior month's purchases Total cash payments June July August