SavedNary hc has forecast purchases on account to be $313,000 in March, $373,000 in April, $423,000 in May, and $493,000 in June. Seventy percert of35 puroheses are paid for the month of purchase, the remalning 30% are pald in the following month. What are budgeted cash payments for June?Mutiple OhaiceO s00$472.00$36.000$296000

Budgeted cash payment for June = (Budgeted purchases for June *70%) + (Budgeted purchases of May*30%)Budgeted cash payment for June = ($493,000*70%) + ($423,000*30%) = $345,100 + $126,900 = $472,000 Hence 2nd option is correct.

Business

Accounting

Sved hary hc hes forecast purchases on account to be $313.000 in March, $373,000 in April, $423,000 in May, and $493,000 in June. Seventy percent of 35 puctases are paid for in the month of purchase, the remaining 30% are pald in the folowing month. What are budgeted cash payments for June? Mutiople Chaice

Sved hary hc hes forecast purchases on account to be $313.000 in March, $373,000 in April, $423,000 in May, and $493,000 in June. Seventy percent of 35 puctases are paid for in the month of purchase, the remaining 30% are pald in the folowing month. What are budgeted cash payments for June? Mutiople Chaice

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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