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Prepare a schedule of budgeted cash payments for April, May, and June. Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $86,000;
Prepare a schedule of budgeted cash payments for April, May, and June.
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $86,000; May, $116,000; and June, $126,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $28,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases Ending accounts payable Total purchases 70% 30% $ $ 0$ May June Zisk Co. Schedule of Cash Payments For April, May, and June April Cash payments for Current month purchases Prior month purchases Budgeted cash payments for materialsStep by Step Solution
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