Torres Company budgets merchandise purchases of $$16,800$ in January, $$17,600$ in February, and $$20,200$ in March. For those

purchases, $40\%$ of purchases are paid in the month of purchase and $60\%$ are paid in the month after the purchase. The company

purchased $$20,000$ 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