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April May June Projected merchandise purchases $92,000 $83,000 $65,500 • Bridgeport pays for 40% of merchandise purchases in the month of the purchase and 60% in the following month. . • General operating expenses are budgeted to be $30,000 per month of which depreciation is $3,500 of this amount. Bridgeport pays operating expenses in the month incurred. Bridgeport makes loan payments of $5,000 per month of which $650 is interest and the remainder is principal. Calculate budgeted cash disbursements for May. Total budgeted cash disbursements $

April May June Projected merchandise purchases $92,000 $83,000 $65,500 • Bridgeport pays for 40% of merchandise purchases in the month of the purchase and 60% in the following month. . • General operating expenses are budgeted to be $30,000 per month of which depreciation is $3,500 of this amount. Bridgeport pays operating expenses in the month incurred. Bridgeport makes loan payments of $5,000 per month of which $650 is interest and the remainder is principal. Calculate budgeted cash disbursements for May. Total budgeted cash disbursements $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bridgeport Inc. provided the following information: April May June Projected merchandise purchases $92,000 $83,000 $65,500 • Bridgeport pays for 40% of merchandise purchases in the month of the purchase and 60% in the following month. General operating expenses are budgeted to be $30,000 per month of which depreciation is $3,500 of this amount. Bridgeport pays operating expenses in the month incurred. Bridgeport makes loan payments of $5,000 per month of which $650 is interest and the remainder is principal. Calculate budgeted cash disbursements for May. Total budgeted cash disbursements $
Transcribed Image Text:Bridgeport Inc. provided the following information: April May June Projected merchandise purchases $92,000 $83,000 $65,500 • Bridgeport pays for 40% of merchandise purchases in the month of the purchase and 60% in the following month. General operating expenses are budgeted to be $30,000 per month of which depreciation is $3,500 of this amount. Bridgeport pays operating expenses in the month incurred. Bridgeport makes loan payments of $5,000 per month of which $650 is interest and the remainder is principal. Calculate budgeted cash disbursements for May. Total budgeted cash disbursements $
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