Question
Mighty Company has provided the following budgeted? purchases: June ?$500,000 July ?$650,000 August ?$420,000 September ?$300,000 October ?$800,000 The company pays for purchases as? follows:
Mighty Company has provided the following budgeted? purchases:
| June | ?$500,000 |
| July | ?$650,000 |
| August | ?$420,000 |
| September | ?$300,000 |
| October | ?$800,000 |
The company pays for purchases as? follows:
| Current month | ?75% |
| One month later? (after the? purchase) | ?20% |
| Two months later? (after the? purchase) | ?5% |
What are the budgeted cash disbursements for the month of? August?
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
