Question
The Steering Antique Mall expects to make purchases in the first quarter of 2021 as follows: January $106,400 February 134,400 March 95,200 Purchases in December
The Steering Antique Mall expects to make purchases in the first quarter of 2021 as follows:
January $106,400
February 134,400
March 95,200
Purchases in December 202 are expected to be $102,400. The company expects that 50% of a month's purchases will be paid in the month of purchase and 50% will be paid in the following month.
Estimate cash disbursements related to purchases for each month of the first quarter of 2021.
Cash disbursements for purchases January February March
Payment of December purchases ____________ __________ _________
Payment of January purchases ___________ ___________ __________
Payment of February purchases ____________ ___________ __________
Payment of March purchases ___________ ___________ __________
Totals $___________ $___________ $__________
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