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The following data have been taken from the budget reports of Kenyon Company, a merchandising company. 40% of purchases are paid for in cash at
The following data have been taken from the budget reports of Kenyon Company, a merchandising company. 40% 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 $158,000 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 $228,000.) Interest payments of $28,000 are paid quarterly in January and April. Kenyon's cash disbursements for the month of April would be: (CMA adapted) Multiple Choice $150,000 $272400 $214,488. $265,965
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