Mini-Exercise 14-6 (Algo) Cash disbursements analysis LO 14-7 ABC Companys raw materials purchases for June,...
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Mini-Exercise 14-6 (Algo) Cash disbursements analysis LO 14-7
ABC Companys raw materials purchases for June, July, and August are budgeted at $41,000, $31,000, and $56,000, respectively. Based on past experience, ABC expects that 40% of a months raw material purchases will be paid in the month of purchase and 60% in the month following the purchase.
Required: Prepare an analysis of cash disbursements from raw materials purchases for ABC Company for August.
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