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Barnes Company budgeted direct materials purchases of $191,990 in January and $138,610 in Febuary. Assume Barnes pays for direct materials purchases 60% in the month

Barnes Company budgeted direct materials purchases of $191,990 in January and $138,610 in Febuary. Assume Barnes pays for direct materials purchases 60% in the month of purchase and 40% in the month after purchase. The accounts payable balance on January 1st is $75,000. prepare a schedule of cash payments for purchases for January and febuary round to the nearest dollar. image text in transcribed
Cash Payments January February Total direct materials purchases January February Cash Payments Direct Materials: Accounts Payable balance, January 1 Jan. Jan. direct material purchases paid in Jan. Jan.-- Jan. direct material purchases paid in Feb. Feb. - Feb. direct material purchases paid in Feb. Total payments for direct materials

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