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Exercise 20-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on...

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Exercise 20-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $96,000; May, $126,000; and June, $136,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $86,000. Prepare a schedule of cash payments for direct materials for April, May, and June. April May June 70% Current period purchases Ending accounts payable Total purchases 30% $ 0 $ 0 $ 0 May June ZISK COMPANY Schedule of Cash Payments for Direct Materials April Cash payments for Current period purchases Prior period purchases Total cash payments

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