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22-10 Preparing a financial budget-schedule of cash payments Barnes Company budgeted direct materials purchases of...

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Accounting

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22-10 Preparing a financial budget-schedule of cash payments Barnes Company budgeted direct materials purchases of $191,990 in January and $138,610 in February. Assume Barnes pays for direct materials purchases 60% in the month of purchase and 40% in the month after purchase. The Accounts Payable balance on January 1 is $75,000. Prepare a schedule of cash payments for purchases for January and February. Round to the nearest dollar

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