Zisk Company purchases direct materials on credit. Budgeted purchases are April, $100,000; May, $130,000; and June,...
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Zisk Company purchases direct materials on credit. Budgeted purchases are April, $100,000; May, $130,000; and June, $140,000. Cash payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. Purchases for March are $90,000. Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May June Materials purchases Cash payments for: Total cash payments Zisk Company purchases direct materials on credit. Budgeted purchases are April, $100,000; May, $130,000; and June, $140,000. Cash payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. Purchases for March are $90,000. Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May June Materials purchases Cash payments for: Total cash payments
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PURCHASE BUDGET Current Period Purchase Ending Accounts Payable Total Purchases ... View the full answer
Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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