Question

Melinda Horan is one of Texas’s premiere party planners. She purchases a variety of supplies, such as plastic tableware, stemware, and decorations, throughout the year. Melinda has prepared the following purchases budget for the coming year.


Historically, Melinda has paid for 30 percent of her purchases in the quarter of purchase and 70 percent in the quarter following purchase. On December 31 of this year Melinda had a $330,000 accounts payable balance.

Required
Prepare Melinda’s cash payments budget for the comingyear.


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  • CreatedFebruary 21, 2014
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