Question: Meyer Co forecasts merchandise purchases of 15 800 in January
Meyer Co. forecasts merchandise purchases of $ 15,800 in January, $ 18,600 in February, and $ 20,200 in March; 40% of purchases are paid in the month of purchase and 60% are paid in the following month. At December 31 of the prior year, the balance of Accounts Payable (for December purchases) is $ 22,000. Prepare a schedule of cash disbursements for merchandise for each of the months of January, February, and March.
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