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Just need some help on this please I will rate! Many thanks and God bless!!! Hammond Company has budgeted purchases of merchandise inventory of S456,000
Just need some help on this please
I will rate!
Many thanks and God bless!!!
Hammond Company has budgeted purchases of merchandise inventory of S456,000 in January and $533,750 in February. Assume Hammond pays for inventory purchases 60% in the month of the purchase and 40% in the month after purchase. The Accounts Payable balance on December 31 is $97,900. Prepare a schedule of cash payments for purchases for January and February. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Cash Payments January February Total merchandise inventory purchases January February Cash Payments Merchandise Inventory: Dec.Dec. 31 Accounts Payable, paid in Jan. Jan.Jan. merchandise inventory purchases paid in Jan. Jan.Jan. merchandise inventory purchases paid in Feb. Feb.-Feb. merchandise inventory purchases paid in Feb. Total payments for merchandise inventoryStep by Step Solution
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