### Budgeted Cash Payments Schedule**Context:**Zisk Co. purchases raw materials on account. The company has budgeted its purchase amounts for the following months: April, $81,000; May, $111,000; and June, $121,000. Payments are made as follows: 75% in the month of purchase and 25% in the month following the purchase. The accounts payable balance as of March 31 is $23,000.The task is to prepare a schedule of budgeted cash payments for materials for April, May, and June.**Schedule of Cash Payments for April, May, and June:**| | April | May | June ||--------------------------|-------------|-------------|-------------|| **Current month purchases** (75%) | | | || **Prior month purchases** (25%) | | | || **Total purchases** | | | |**Explanation:**1. **Columns and Rows:** - **Columns** represent the months (April, May, June). - **Rows** separate the current month purchases, prior month purchases, and total purchases.2. **Payment Distribution:** - **Current Month Purchases:** Each month, 75% of the purchases for that month are paid. - **Prior Month Purchases:** 25% of the previous month's purchases are paid.3. **Note:** - The table is used to calculate and track payments for each month, ensuring accurate cash flow projections and planning.

Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $81,000; May, $111,000; and June, $121,000. 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 $23,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases 75% Ending accounts payable 25% Total purchases Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for:

Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $81,000; May, $111,000; and June, $121,000. 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 $23,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases 75% Ending accounts payable 25% Total purchases Zisk Co. Schedule of Cash Payments For April, May, and June April May June Cash payments for:

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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