COVID 19 Co. has forecast purchases on account to be $318,000 in March, $371,000 in April,...

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COVID 19 Co. has forecast purchases on account to be $318,000 in March, $371,000 in April, $421,000 in May, and $496,000 in J

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Answer 1

Answer #1

Answer D - $ 349800

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	Amount in $
Month	Purchases Forecast	Sixty % purchases are paid for in the month of Purchase	Remaining 40% are paid in the following month	Budgeted Cah Payments for April month
March	318,000	190,800
April	371,000	222,600	127,200	349,800
May	421,000	252,600	148,400
June	496,000	297,600	168,400
July			198,400
Total	1,606,000	963,600	642,400

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Answer 2

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