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Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June. Use the format given here and the following information
Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June. Use the format given here and the following information in its preparation. Sales: February $501,000; March $517,000; April $572,000; May $634,000; June $648,000; July $635,000 Purchases: Purchases are calculated as 63% of the next month's sales, 10% of purchases are made in cash, 47% of purchases are paid for 1 month after purchase, and the remaining 43% of purchases are paid for 2 months after purchase. Rent: The firm pays rent of $8,050 per month. Wages and salaries: Base wage and salary costs are fixed at $6,300 per month plus a variable cost of 6.9% of the current month's sales. Taxes: A tax payment of $54,600 is due in June. Fixed asset outlays: New equipment costing $75,300 will be bought and paid for in April. Interest payments: An interest payment of $29,600 is due in June. Cash dividends: Dividends of $12,100 will be paid in April. Principal repayments and retirements: No principal repayments or retirements arc due during these months. Complete the cash disbursements schedule for Maris Brothers, Inc. below: (Round to the nearest dollar.)
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