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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $93,000; May. $123,000;...

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Accounting

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Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $93,000; May. $123,000; and June, $133,000. Payments are made as follows: 75% in the month of purchase and 25% in the month after purchase. The March 31 balance of accounts payable is $35,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases Ending accounts payable Total purchases 75% 25% Zisk Co. Schedule of Cash Payments For April, May, and June April Cash payments for: Current month purchases Prior month purchases Budgeted cash payments for materials May June

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