Goliath Company prepared the following purchases budget: All purchases are paid for as follows: 60% in the month of purchase, 35% in the following month, and 5% two months after purchase.
What are the cash disbursements in August to account for the June purchases at Goliath Company?

Question

Goliath Company prepared the following purchases budget:  All purchases are paid for as follows: 60% in the month of purchase, 35% in the following month, and 5% two months after purchase.
What are the cash disbursements in August to account for the June purchases at Goliath Company?

Quizplus · Accepted Answer

The Answer of Goliath Company prepared the following purchases budget:  All purchases are paid for as follows: 60% in the month of purchase, 35% in the following month, and 5% two months after purchase.
What are the cash disbursements in August to account for the June purchases at Goliath Company?

Goliath Company Prepared the Following Purchases Budget: All Purchases