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(Cash Disbursement): M Company budgeted direct materials purchases of P150,000 in April and P240,000 in May. It is the company's practice to pay for 70% of its purchases in the month of purchase and the remaining 30% in the following month. Other costs are all paid during the month incurred. During May, the following items were budgeted: Salaries and Wages expense P75,000 Purchase of office equipment 36,000 Selling and administrative expenses 24,000 Depreciation expense 18,000 Required: What amount should be budgeted for cash disbursements for May?
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