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Prepare a monthly schedule of expected cash payments

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Reference no: EM13531007

The projections of direct materials purchases that follow are for the Stromboli Corporation.

Purchases on Account

Cash Purchases

December, 2010

$40,000

$20,000

January, 2011

60,000

30,000

February, 2011

50,000

25,000

March, 2011

70,000

35,000

The company pays for 60 percent of purchases on account in the month of purchase and 40 percent in the month following the purchase.

Prepare a monthly schedule of expected cash payments for direct materials for the first quarter of 2011.

Reference no: EM13531007

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