Hardy Company reports budgeted merchandise purchases below. For those purchases, 40% of a month's purchases is paid in the month of purchase, and 60% 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 193,000 September 180,000 October 160,000 HARDY COMPANY Schedule of Cash Payments for Merchandise Purchases Merchandise purchases Cash payments for: Current period purchases Prior period purchases Total cash payments for merchandise purchases September October $ 180,000 $ 160,000

Hardy Company reports budgeted merchandise purchases below. For those purchases, 40% of a month's purchases is paid in the month of purchase, and 60% 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 193,000 September 180,000 October 160,000 HARDY COMPANY Schedule of Cash Payments for Merchandise Purchases Merchandise purchases Cash payments for: Current period purchases Prior period purchases Total cash payments for merchandise purchases September October $ 180,000 $ 160,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 6BE: Cash budget Pasadena Candle Inc. pays 40% of its purchases on account in the month of the purchase...

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