Gibson Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first three months of operation.

The first 8 sections of the problem have been answered here. You will use this data to answer the questions below.For this one I just need the Acconts payable and reatianed earnings.

October sales are estimated to be $340,000, of which 35 percent will be cash and 65 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. October November December Sales Budget Cash sales Sales on account Total budgeted sales 119,000 $142,800 7,360 318,240 $ 340,000$ 408,000$489,600 221,000 265,200