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Exercise 20-19 Budgeted cash payments LO P2 Zisk Co. purchases raw materials on account. Budgeted...

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Exercise 20-19 Budgeted cash payments LO P2 Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $80,000; May, $110,000; and June, $120,000. 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 $22,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June 70% Current month purchases Ending accounts payable Total purchases 30% May June Zisk Co. Schedule of Cash Payments For April, May, and June April Cash payments for Current month purchases Prior month purchases Budgeted cash payments for materials

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