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Hardy Company reports budgeted merchandise purchases below. For those purchases, 30% of a month's purchases...

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Accounting

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Hardy Company reports budgeted merchandise purchases below. For those purchases, 30% of a month's purchases is paid in the month of purchase, and 70% is paid in the first month after purchase. Prepare the schedule of cash payments for merchandise purchases for September and October. Budgeted merchandise purchases August 192,000 September 181,000 October 150,000 Answer is complete but not entirely correct. HARDY COMPANY Schedule of Cash Payments for Merchandise Purchases September October Merchandise purchases $ 181,000 $ 150,000 Cash payments for Current period purchases $ 54,300 $ 45,000 Prior period purchases 126,700 105,000 Total cash payments for merchandise purchases 181,000 150,000 $ $

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