Question: A city is preparing its cash forecast for the month of July. Based on the following information, compute the estimated cash disbursements for July. Items
A city is preparing its cash forecast for the month of July. Based on the following information, compute the estimated cash disbursements for July.
Items vouchered in July………………………………………………… $ 650,000
Estimated payments in July for items vouchered in July……………….. 50%
Items vouchered in June………………………………………………… $ 400,000
Estimated payments in July for all items vouchered in June……………. 70%
Estimated payments in July for items vouchered prior to June…………… $ 50,000
Items vouchered in June but returned in July before payment was made.. $20,000.
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