Hardy Company reports budgeted merchandise purchases below. For those purchases, 30% of a month's purchases...
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Accounting
Hardy Company reports budgeted merchandise purchases below. For those purchases, 30% of a month's purchases is paid in the month of purchase, and 70% is paid in the first month after purchase. Prepare the schedule of cash payments for merchandise purchases for September and October Budgeted merchandise purchases August 195,000 September 184,900 October 160,000 HARDY COMPANY Schedule of Cash Payments for Merchandise Purchases September October Merchandise purchases $ 184,000 $ 160,000 Cash payments for Current period purchases Prior period purchases Total cash payments for merchandise purchases
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