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Exercise 20-19 Budgeted cash payments LO P2 Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $89,000; May, $119,000; and June, $129,000 Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $31,000 Prepare a schedule of budgeted cash payments for April, May, and June Answer is complete but not entirely correct. April May June 70% |$ 62,300 |$ 83,300 > |$ 90,300 35,700 S 93,300 S 110,000 S126,000 Current month purchases Ending accounts payable 30% 31,00026,700 Total purchases Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for: Current month purchases S 62,300 83,300 S 90,300 Prior month purchases 0026,700 35,700 Budgeted cash payments for S 93,300 110,000 S 126,000 materials