Question

Question 2 is through E , F, G, and H

E. Expected purchases for June and July are​ $76,000 and​ $90,000, respectively. Purchases for May were​ $56,000. All purchases are paid​ 40% in the month of purchase and​ 60% the following month. At what amount are June payments for purchases​ budgeted?

A.​$64,000

B.​$88,800

C.​$68,000

D.​$100,000

F. A lamp store purchased $3,000 of lamps in September. The store had $1,100 of lamps on hand at the beginning of​ September, and expected to have $1,000 of lamps at the end of September to cover part of anticipated October sales. What is the budgeted cost of goods sold for​ September?

A. $2,900

B. $5,100

C. $4,100

D. $3,100

G. Goliath Company prepared the following purchases​ budget:

Month	Budgeted Purchases
June	​$34,200
July	​$41,000
August	​$39,600
September	​$45,900
October	​$48,700

All purchases are paid for as​ follows: 60% in the month of​ purchase, 35% in the following​ month, and​ 5% two months after purchase. What are the cash disbursements in August to account for the June purchases at Goliath​ Company?

A.​ $16,065

B. ​$1,710

C.​ $11,970

D. ​$20,520

H. Goliath Company prepared the following purchases​ budget:

Month	Budgeted Purchases
June	​$35,700
July	​$41,200
August	​$38,100
September	​$45,800
October	​$48,000

All purchases are paid for as​ follows: 60% in the month of​ purchase, 35% in the following​ month, and​ 5% two months after purchase.

What are the total cash disbursements in October to account for the purchase of merchandise at Goliath​ Company?

A. ​$46,735

B. ​$39,065

C. ​$28,800

D. ​$48,000

Answer 1