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Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000 $40,000 $38,300 $52,000 $48,500 All purchases are paid for
Lough Company prepared the following purchases budget: Month June July August September October Budgeted Purchases $38,000 $40,000 $38,300 $52,000 $48,500 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 cash disbursements in October to account for the September purchases at Lough Company? $20,800 $52,000 $7800 $5700
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