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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $96,000; May, $126,000; and June, $136,000. Payments are made as follows: 70% in

Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $96,000; May, $126,000; and June, $136,000. 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 $38,000. Prepare a schedule of budgeted cash payments for April, May, and June

April May June
Current month purchases 70%
Ending accounts payable 30%
Total purchases $0 $0 $0
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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