Hammond's Cookie Toppings makes payments on its inventory purchases as follows: 20% in the month...
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Accounting
Hammond's Cookie Toppings makes payments on its inventory purchases as follows: 20% in the month of purchase, 70% in the following month, and 10% in the second month following purchase. Budgeted inventory purchases for June, July, and August are $$19,000, $18,000 and $24,000, respectively. What is the budgeted amount of cash payments to account for inventory in August at Hammond's Cookie Toppings? A. $9,700 O B. $19,300 C. $6,100 D. $18,800
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