Problem:
Streak Merchandising Company expects to purchase $ 60,000 of materials in July and $70,000 of materials in August. Three-quarters of all purchases are paid for in the month of purchase, and the other one-fourth is paid for in the month following the month of purchase. In addition, a 2% discount is received for payments made in the month of purchase. How much will Augusts cash disbursements for materials purchases be?