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29. (4 points) Selected information for Leia Company follows: Balance sheet accounts: 05-31-17 Cash $300,000 Accounts receivable 225,000 Inventory 400,000 Prepaid rent 60,000 Accounts payable

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29. (4 points) Selected information for Leia Company follows: Balance sheet accounts: 05-31-17 Cash $300,000 Accounts receivable 225,000 Inventory 400,000 Prepaid rent 60,000 Accounts payable (for inventory purchases only) 130,000 Accrued wages payable 33,000 Accrued interest payable 17,000 Unearned revenue 40,000 Income statement amounts for June 2017: Sales revenue 5860,000 Cost of goods sold 310,000 Selling, general, and administrative expenses 250,000 Interest expense 18,000 Calculate for following for the month of June 2017: a. Cash collections from customers b. Cash payments for inventory Cash payments for selling, general, and administrative expenses d. Cash payments for interest 06-30-17 $253,000 300,000 460,000 95,000 125,000 17,000 15,000 25,000 * includes $25,000 of depreciation expense c. 1

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