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EA13.
LO 7.3What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the beginning and ending balances of accounts payable are $95,000 and $92,000, respectively?

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pedrocarratore

Answer:

$423,000

Explanation:

Initial accounts payable added to any purchases made during the period must equal ending accounts payable plus cash payments. Therefore, the amount of budgeted cash payments is:

[tex]\$95,000 + \$420,000 = \$92,000 + budgeted\ cash\ payments\\budgeted\ cash\ payments = \$423,000[/tex]

The amount of budgeted cash payments is $423,000.

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