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Franklin is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid
Franklin is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when incurred except sales commissions and utilities, which are paid in the month following their incurrence. July is the first month of operations, so there are no beginning account balances. July August September Salary expense $ 17, 500 $ 17, 500 $ 17, 500 Sales commissions (4 percent of sales) 3 , 100 3, 100 3, 100 Supplies expense 300 330 360 Utilities 2, 900 2, 900 2,900 Depreciation on store equipment 2, 400 2, 400 2, 400 Rent 5, 600 5, 600 5, 600 Miscellaneous 590 590 590 Total S&A expenses before interest $ 32, 390 $ 32, 420 $ 32, 450 Required a. Prepare a schedule of cash payments for selling and administrative expenses. b. Determine the amount of utilities payable as of September 30. c. Determine the amount of sales commissions payable as of September 30.a. Prepare a schedule of cash payments for selling and administrative expenses b. Determine the amount of utilities payable as of September 30. c. Determine the amount of sales commissions payable as of September 30. Complete this question by entering your answers in the tabs below. Req A Req B and C Prepare a schedule of cash payments for selling and administrative expenses. Schedule of Cash Payments for Selling and Admin Expenses July August September Total payments for S&A expensesRequired a. Prepare a schedule of cash payments for selling and administrative expenses. b. Determine the amount of utilities payable as of September 30. c. Determine the amount of sales commissions payable as of September 30. Complete this question by entering your answers in the tabs below. Reg A Req B and C es Determine the amount of utilities payable and sales commissions payable as of September 30. b. Utilities payable c. Sales commissions payable
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