Goliath Company prepared the following purchase budget: Month Budgeted Purchases June...............................................$35,600 July................................................$42,500 August...........................................$39,600 September.......................................$45,800 October..........................................$49,400 All purchases
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Month Budgeted Purchases
June...............................................$35,600
July................................................$42,500
August...........................................$39,600
September.......................................$45,800
October..........................................$49,400
All purchases are paid for as follows: 30% in the month of purchase, 45% in the following month, and 25% two months after purchase.
What are the cash disbursements in August to account for the June purchases at Goliath Company?
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Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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