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Tough Tillers Inc. makes tillers for small farms. Their inventory purchases budget is shown below: Sep purchases $240,000 Oct purchases $338,000 Nov purchases $234,000 25%
Tough Tillers Inc. makes tillers for small farms. Their inventory purchases budget is shown below: Sep purchases $240,000 Oct purchases $338,000 Nov purchases $234,000 25% of purchases are paid in the month of the purchase. The remainder are paid in the next month. Operating expenses were $215,000 of which $50,000 was depreciation. Tough Tillers will declare and pay a dividend of $16,000. What should they budget for cash payments in November
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