Hardy Co. reports budgeted merchandise purchases below. For those purchases, 40% of a months purchases is paid
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Hardy Co. reports budgeted merchandise purchases below. For those purchases, 40% of a month’s purchases is paid in the month of purchase, and 60% is paid in the first month after purchase. Prepare the schedule of cash payments for merchandise purchases for September and October.
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August September October Budgeted merchandise purchases .... $194,400 $183,600 $157,200
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