Multiple Choice Question 110 A company has budgeted direct materials purchases of $400000 in July and $560000 in August. Past experience indicates that the company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month. During August, the following items were budgeted: $250000 82000 Wages Expense Purchase of office equipment Selling and Administrative Expenses Depreciation Expense 58000 46000 The budgeted cash disbursements for August are $844000. $902000 $948000. $512000. Multiple Choice Question 154 On January 1, Waterway Industries has a beginning cash balance of $44000. During the year, the company expects cash disbursements of $310000 and cash receipts of $250000. If Waterway requires an ending cash balance of $40000, the company must borrow A $56000. $44000. $40000. $104000. Click if you would like to Show Work for this question: Open Show Work