Question

All purchases are paid for as follows: a. 10% in the month of purchase, b. 40% in the following month, and c. 50% two months after purchase. Calculate total budgeted cash payments made in October for purchases.

Answer 1

Answer:

The total budgeted cash payments made in October is $74,290  

Explanation:

The cash payment made in October

October $69,200@10% $6,920  

September $73,700@50% $36,850  

August $76,300@40% $30,520  

The total is  $74,290