QS 22-27A (Algo) Merchandising: Schedule of cash payments LO P4 Torres Company budgets merchandise purchases of $15,800 in January, $17.600 in February, and $22,200 in March. For those purchases, 50% of purchases are paid in the month of purchase and 50% are paid in the month after the purchase. The company purchased $29,000 of merchandise in December Prepare a schedule of cash payments for merchandise for the months of January, February, and March TORRES COMPANY Cash Payments for Merchandise Purchases January February March Merchandise purchases 5 15,800 $ 17,600 $ 22,200 Cash payments for Current period purchases Prior period purchases Total cash payments for merchandise purchases