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Please show your work in how to obtain the answer for 3 and 4. Acme Company has requested a schedule of cash disbursements for inventory
Please show your work in how to obtain the answer for 3 and 4.
Acme Company has requested a schedule of cash disbursements for inventory purchases and operating expenses for the month of July. Forecasted sales for June and July are as follows: The cost of inventory purchases averages 55% of sales. Sixty-five percent (65%) of the purchases are paid for in the month of purchase with the remainder paid in the following month. Operating expenses include $2, 500 in rent, $6,000 in salaries, $2,000 in depreciation, and $750 in utilities, and are paid 75% in the month incurred with the remaining 25% paid in the month following. .July's budgeted cash disbursement for inventory purchases amounts to: d. $71, 225 June's budgeted total cash disbursement amounts toStep by Step Solution
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