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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $92,000; May, $122,000; and...

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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Answer #1
Statement Showing Budgeted Cash Disbursement
April May June
Budgted Purchase Amount $92,000.00 $122,000.00 $132,000.00
Cash Payment for March Account Bal $34,000.00
Cash Payment for April purchase $64,400.00 $27,600.00
Cash Payment for May purchase $85,400.00 $36,600.00
Cash Payment for June purchase $92,400.00
Total Budgeted cash Payment $98,400.00 $113,000.00 $129,000.00
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