Hector Company reports the following: July $30,000 19,200 August $38,000 24,320 September $42,000 30,000 Sales Purchases Payments for purchases are made in the month after purchase. Selling expenses are 18% of sales, administrative expenses are 8 % oz sales, and both are paid in the month of sale. Rent expense of $3,200 is paid monthly. Depreciation expense is $1,000 per month. Prepare a schedule of budgeted cash payments for August and September HECTOR COMPANY Budgeted Cash Payments For August and September September August Payments for: Administrative expenses Merchandise Rent expense Selling expenses