Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $92,000; May, $122,000;...
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Accounting
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $92,000; May, $122,000; and June, $132,000. 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 $34,000. Prepare a schedule of budgeted cash payments for April, May, and June.
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