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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $84,000; May, $114,000; and June, $124,000. Payments are made as follows: 75% in
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $84,000; May, $114,000; and June, $124,000. Payments are made as follows: 75% in the month of purchase and 25% in the month after purchase. The March 31 balance of accounts payable is $26,000. 84,000; May, purchase. The March 31 b made as follows: 75% nthem Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases Ending accounts payable 75% 25% Total purchases Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for: Current month purchases Prior month purchases Budgeted cash payments for materials
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