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The Ceradyne Antique Mall expects to make purchases in the first quarter of 2021 as follows: January $77,900 February 98,400 March 69,700 Purchases in December 2020 are expected to be $75,400
The Ceradyne Antique Mall expects to make purchases in the first quarter of 2021 as follows:
January $77,900 February 98,400 March 69,700
Purchases in December 2020 are expected to be $75,400. The company expects that 50 percent of a month's purchases will be paid in the month of purchase and 50 percent will be paid in the following month.
Estimate cash disbursements related to purchases for each month of the first quarter of 2021.
Expert Solution
| Cash Disbursements for Purchases: | January | February | March |
| Payment of December purchases | $37,700.00 | ||
| Payment of January purchases | $38,950.00 | $38,950.00 | |
| Payment of February purchases | $49,200.00 | $49,200.00 | |
| Payment of March purchases | $34,850.00 | ||
| $76,650.00 | $88,150.00 | $84,050.00 |
| Cash Disbursements for Purchases: | January | February | March |
| Payment of December purchases | =75400*50% | ||
| Payment of January purchases | =77900*50% | =77900*50% | |
| Payment of February purchases | =98400*50% | =98400*50% | |
| Payment of March purchases | =69700*50% | ||
| =37700+38950 | =38950+49200 | =49200+34850 |
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