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Hector Company reports the following: July August September Sales $ 50,000 $ 72,000 $ 66,000 Purchases 14,400 19,200 21,600 Payments for purchases are made in
Hector Company reports the following: July August September Sales $ 50,000 $ 72,000 $ 66,000 Purchases 14,400 19,200 21,600 Payments for purchases are made in the month after purchase. Selling expenses are 10% of sales, administrative expenses are 8% of sales, and both are paid in the month of sale. Rent expense of $7,400 is paid monthly. Depreciation expense is $2,300 per month.
Exercise 7-29A Merchandising: Budgeted cash disbursements LO P4 Hector Company reports the following: July August September $50,000 $72,000 $66,000 21,600 Sales Purchases 14,400 19,200 Payments for purchases are made in the month after purchase. Selling expenses are 10% of sales. administrative expenses are 8% of sales, and both are paid in the month of sale. Rent expense of $7,400 is paid monthly. Depreciation expense is $2,300 per month. Prepare a schedule of budgeted cash disbursements for August and September HECTOR COMPANY Budgeted Cash Disbursements For August and September August September 14,400 S Payments for merchandise Selling expenses Administrative expenses Rent expense 19,200 This is a numeric cell, so please enter numbers only Total cash disbursemen 19,200Step by Step Solution
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