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Pasadena Candle Inc. pays 40% of its purchases on account in the month of the...

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Question

Accounting

Pasadena Candle Inc. pays 40% of its purchases on account in the month of the purchase and 60% in the month following the purchase. Purchases are budgeted to be $40,000 for August and $36,000 for September.

Prepare a simple cash budget for Pasadena Candle Inc.

Pasadena Candle Inc. Schedule of Cash Payments for Purchases For the Month Ending September

Estimated beginning inventory, AugustEstimated ending inventory, AugustPayments for August purchasesPayments for August sold

- Select -

Estimated beginning inventory, SeptemberEstimated ending inventory, SeptemberExpected units to be soldPayments for September purchasesPayments for September sold

- Select -

Total payments for purchases on account

$fill in the blank 5

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