Question
Company is preparing their budget for the 2 nd quarter and provides the following data: April May June Budgeted purchases $10000 $12,000 $9,000 Budgeted Cash
Company is preparing their budget for the 2ndquarter and provides the following data:
| April | May | June | |
| Budgeted purchases | $10000 | $12,000 | $9,000 |
| Budgeted Cash Payments for Inventory Purchases | April | May | June |
| 60% of previous month purchases | 5,000 | 6,000 | 7,200 |
| 40% of current month purchases | 4,000 | 4,800 | 3,600 |
| Total cash payments | $9,000 | $10,800 | $10,800 |
Assume that accounts payable pertains only to suppliers of inventory. Based on the above data, what should the budgeted balance sheet show as the balance of Accounts payable at June 30?
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Computer Architecture Fundamentals And Principles Of Computer Design
Authors: Joseph D. Dumas II
2nd Edition
1032097337, 978-1032097336
