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What are morgan budgeted cash payments for purchases

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Reference no: EM132663753

Morgan Manufacturing is preparing its cash budget for the second quarter. The inventory manager has provided the following amounts budgeted for materials purchases:

April             $62,880
May               44,960
June                47,360

Problem 1: The controller reports that Morgan pays for 20% of its purchases in the month of purchase, 60% in the month following purchase, and 20% in the second month after purchase. What are Morgan's budgeted cash payments for purchases in June?

Reference no: EM132663753

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