The following data have been taken from the budget reports of Kenyon Company, a merchandising company....

Transcribed Image Text:

The following data have been taken from the budget reports of Kenyon Company, a merchandising company. Sales $132,000 January February Purchases $192,000 $192,000 $232,000 March $192,000 $272,000 April $172,000 $332,000 May June $172,000 $292,000 $152,000 $272,000 Forty percent of purchases are paid for in cash at the time of purchase, and 30% are paid for in each of the next two months. Purchases for the previous November and December were $182,000 per month. Employee wages are 10% of sales for the month in which the sales occur. Marketing and administrative expenses are 20% of the following month's sales. (July sales are budgeted to be $252,000.) Interest payments of $52,000 are paid quarterly in January and April. Kenyon's cash disbursements for the month of April would be: (CMA adapted) The following data have been taken from the budget reports of Kenyon Company, a merchandising company. Sales $132,000 January February Purchases $192,000 $192,000 $232,000 March $192,000 $272,000 April $172,000 $332,000 May June $172,000 $292,000 $152,000 $272,000 Forty percent of purchases are paid for in cash at the time of purchase, and 30% are paid for in each of the next two months. Purchases for the previous November and December were $182,000 per month. Employee wages are 10% of sales for the month in which the sales occur. Marketing and administrative expenses are 20% of the following month's sales. (July sales are budgeted to be $252,000.) Interest payments of $52,000 are paid quarterly in January and April. Kenyon's cash disbursements for the month of April would be: (CMA adapted)