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Zisk Co. purchases raw materials on account. budgeted purchases amounts are April, $86,000; May, $116,000;...

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Accounting

Zisk Co. purchases raw materials on account. budgeted purchases amounts are April, $86,000; May, $116,000; and June, $126,000. payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $28,000. prepare a schedule of budgeted cash payments for April, May, and June.
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April May June 70% Current month purchases Ending accounts payable Total purchases 30% $ 0 $ 0 $ 0 Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for: Current month purchases Prior month purchases Budgeted cash payments for materials

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