Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $93,000; May, $123,000,...
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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $93,000; May, $123,000, and June, $133,000. Payments are made as follows: 75% in the month of purchase and 25% in the month after purchase. The March 31 balance of accounts payable is $35,000 Prepare a schedule of budgeted cash payments for April, May, and June. April May June 75% Current month purchases Ending accounts payable Total purchases 25% $ 0 $ 0 $ 0 May June Zisk Co. Schedule of Cash Payments For April, May, and June April Cash payments for Current month purchases Prior month purchases Budgeted cash payments for materials
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