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Lough Company prepared the following purchases budget: Month Budgeted Purchases June $37,000 July $45,000 August $39,200 September $46,000 October $48,600 All purchases are paid for
Lough Company prepared the following purchases budget: Month Budgeted Purchases June $37,000 July $45,000 August $39,200 September $46,000 October $48,600 All purchases are paid for as follows: 15% two months after purchase, 40% in the following month, and 45% in the month of purchase. What are the total cash disbursements in October to account for the purchase of merchandise at Lough Company? A. $41,190 B. $40,270 C. $46,150 D. $21,870
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