Zisk Company purchases direct materials on credit. Budgeted purchases are April, $92,000; May, $122,000; and June, $132,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $82,000. Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY. Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for: Total cash payments June

Zisk Company purchases direct materials on credit. Budgeted purchases are April, $92,000; May, $122,000; and June, $132,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $82,000. Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY. Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for: Total cash payments June

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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