it one question but I split it into 2 photos Sheffield Company's budgeted sales...
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it one question but I split it into 2 photos
Sheffield Company's budgeted sales and direct materials (DM) purchases are as follows. Sheffield's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Sheffield's purchases are 50% cash and 50% on account. Purchases on account are paid 30% in the month of the purchase and 70% in the month following the purchase. Prepare a schedule of budgeted cash disbursements for direct materials for March
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