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Lakemerced Corp. budgeted purchases on account to be $317,000 in March, $374,000 in April, $429,000 in May, and $499,000 in June. Seventy percent of purchases are paid in cash in the month of purchase,
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Lakemerced Corp. budgeted purchases on account to be $317,000 in March, $374,000 in April, $429,000 in May, and $499,000 in June. Seventy percent of purchases are paid in cash in the month of purchase, the remaining 30% are paid in the following month. What are budgeted cash payments for April

User Sullivan
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Answer:

$173,640

Step-by-step explanation:

April payments = $374,000 x 70 % + $317,000 x 30 %

= $173,640

Budgeted cash payments for April is $173,640

User Clearscreen
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