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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $94,000; May, $124,000; and June, $134,000. Payments are made as follows: 70% in
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $94,000; May, $124,000; and June, $134,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $36,000. Prepare a schedule of budgeted cash payments for April, May, and June.
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