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dont answer The schedule below shows budgeted purchases and expenses for XYZ Company. September October November Merchandise purchases $ 187,142 $ 221,122 $ 204,253 Salaries
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The schedule below shows budgeted purchases and expenses for XYZ Company. September October November Merchandise purchases $ 187,142 $ 221,122 $ 204,253 Salaries $ 30,000 $ 32,000 $ 32,000 Advertising $ 73,833 $ 69,447 $ 81,615 Utilities $ 6,000 $ 6,000 $ 6,000 Depreciation $ 5,000 $ 5,000 $ 5,000 Merchandise purchases are paid 50% in the month of purchase and 50% in the month after purchase. Accounts payable for merchandise purchases on August 31st, which will be paid during September, total $139,274. Salaries, Advertising and Utilities are all paid in cash in the month those expenses are incurred. "Depreciation" is the depreciation expense shown on the income statement each month. Equipment costing $11,496 will be purchased for cash during November. Calculate total cash payments budgeted for NovemberStep by Step Solution
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