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Gilbert Company purchased $40,000 of goods in July and expects to purchase $60,000 of goods in August. Gilbert typically pays for 25% of purchases in the month of purchase and 75% in the following month. What are Gilbert Company's total expected cash disbursements for purchases in the month of August?

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hyderali230

Answer:

Gilbert Company's total expected cash disbursements for purchases in the month of August are $45,000.

Explanation:

In August the 75% of July purchases payments and 25 % of August purchases Payments will bedisbursed.

Cash Disbursement of August

August Payment = $15,000

July Payment = $30,000

Total Disbursement = $15,000 + $30,000

Total Disbursement = $45,000

Working:

July payment = $40,000 x 75% = $30,000

August Payment = $60,000 x 25% = $15,000

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