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All the grocery purchases are made on credit and paid for in the month following $12,765.60 the purchase. Grocery purchases in June were Percentage of
All the grocery purchases are made on credit and paid for in the month following $12,765.60 the purchase. Grocery purchases in June were Percentage of purchases (Packaging) on credit 80% Utilities; Electricity, Gas and Water are all paid at the end of the quarter Rent is paid in advance at the beginning of the quarter All other expenses are paid at the time they are incurred $53,222.32 Bank balance at the beginning of the budget period is Pattern of receipts from A/C Receivable Same month as sale 15% Month following month of sale 55% Second month following month of sale 30% Third month following month of sale 0% Pattern of payments from A/C Payable ; Packaging Suppliers Same month of purchase 50% Month following month of purchase 50%
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