Handout 8-6 (LO 4) The raw materials purchases of Strong, Inc. for this coming year are as follows. | | Quarter 1 $8.000 Quarter 2 $22.300 Quarter 3 $32.000 Quarter 4 $42.000 Raw materials purchases Year $104.300 | | 20% of the raw materials purchases will be paid in the same quarter of purchase and the remaining 80% will be paid in the following quarter. The beginning balance of accounts payable is $8.000 (1.e.. the remaining unpaid purchase from the last quarter of the previous year). Compute the schedule of cash payments for materials purchases of Strong, Inc. Quarter 1 $8,000 Quarter 2 $22,300 Quarter 3 $32,000 Quarter 4 $42,000 Year $104.300 Raw materials purchases 20% paid for in month of purchase 80% paid for in the quarter following purchase Cash paid for raw materials 8.000