QS 20-26A (Algo) Merchandising: Cash payments for merchandise LO P4 Garda purchased $580,000 of merchandise in August and budgets merchandise purchases of $750,000 in September, Merchandise purchases are paid as follows: 20% in the month of purchase and 80% in the month after the purchase Prepare a schedule of cash payments for merchandise purchases for September GARDA Schedule of Cash Payments for Merchandise Purchases September Merchandise purchases s 750,000 Cash payments for Current period purchases Pror penod purchases Total cash payments for merchandise purchases S