Steering Retailers expects to make inventory purchases in the next quarter as follows: ...
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Accounting
Steering Retailers expects to make inventory purchases in the next quarter as follows:
April
$64,500
May
74,800
June
99,300
Prior experience has shown that 60 percent of a months purchases are paid in the month of purchase and 40 percent are paid in the month following purchase. March purchases were $55,600. Estimate cash disbursements related to purchases for April, May, and June.
Cash disbursements for purchases
April
May
June
Payment of March purchases
$
$
$
Payment of April purchases
Payment of May purchases
Payment of June purchases
$
$
$
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