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Goliath Company prepared the following purchases​ budget: Month Budgeted Purchases June $ 35 comma 100 July $ 41 comma 500 August $ 39 comma 000 September $ 45 comma 800 October $ 48 comma 200 All purchases are paid for as​ follows: 35​% in the month of​ purchase, 45​% in the following​ month, and 20​% two months after purchase. What are the total cash disbursements in October to account for the purchase of merchandise at Goliath​ Company?

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Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Month Budgeted Purchases

June: $35,100

July: $ 41,500

August: $39,000

September: $45,800

October: $48,200

All purchases are paid for as​ follows: 35​% in the month of​ purchase, 45​% in the following​ month, and 20​% two months after purchase.

October:

Purchase October= 48,200*0.35= 16,870

From September= 45,800*0.45= 20,610

From August= 39,000*0.20= 7,800

Total= $45,280

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