At December 31, 2020, Cheyenne Corporation owes $480,800 on a note payable due February 15, 2021. If Cheyenne had restructured the note on December 15, 2020, such that Cheyenne has the contractual right to defer payment of $260,200 of the note until February 15, 2022, how much of the $520,400 should be reported as a current liability at December 31, 2020?

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)