Mudbug International Has Budgeted Inventory Purchases as Follows The Budget Assumes That 50% of a Given Month's Purchases
Mudbug International has budgeted inventory purchases as follows:
The budget assumes that 50% of a given month's purchases are paid in the month of purchase, and the remaining 50% is paid out one month later. Accounts payable to inventory suppliers at March 31 was $38,000. Please use the format below and prepare the budgeted cash payments for inventory purchases.
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