A company has budgeted direct materials purchases of $335,000 in July and $420,000 in August....
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Accounting
A company has budgeted direct materials purchases of $335,000 in July and $420,000 in August. Past experience indicates that the company pays for 55% of its purchases in the month of purchase and the remaining 45% in the next month. During August, the following items were budgeted:
Wages Expense
$60,000
Purchase of office equipment
42,000
Selling and Administrative Expenses
51,000
Depreciation Expense
26,000
The budgeted cash disbursements for August are:
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