Question: Hammond's Cookie Toppings makes payments on its inventory purchases as follows: 30% in the month of purchase, 65% in the following month, and 5%

Hammond's Cookie Toppings makes payments on its inventory purchases as follows: 30% in the month of purchase, 65% in the following month, and 5% in the second month following purchase. Budgeted inventory purchases for June, July, and August are $$20,000, $24,000 and $22,000, respectively. What is the budgeted amount of cash payments to account for inventory in August at Hammond's Cookie Toppings? A. $3,300 B. $10,000 C. $23,200 D. $22,700

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