Cullumber Design provided the following budgeted information for April through July:AprilMayJuneJulyProjected sales$133120 $157440 $147200 $168960Projected merchandise purchases $104960 $117760 $99840 $84480The cash balance on June 1 is $15360. The company pays 40% of merchandise purchases in the month purchased and 60% in thefollowing month. General operating expenses are budgeted to be $39680 per month of which depreciation is $3840 of this amount.Management pays operating expenses in the month incurred. The company makes loan payments of $5120 per month of which $768is interest and the remainder is principal. How much are budgeted cash disbursements for June?O $110592.O $151552.O $131584.O $80896.

Please see answer and computation below.

Answered: Cullumber Design provided the following…

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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