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Hector Company reports the following: July August September Sales $ 15,000 $ 23,000 $ 27,000 Purchases 9,000 13,800 15,000 Payments for purchases are made in
Hector Company reports the following:
| July | August | September | |||||||
| Sales | $ | 15,000 | $ | 23,000 | $ | 27,000 | |||
| Purchases | 9,000 | 13,800 | 15,000 | ||||||
Payments for purchases are made in the month after purchase. Selling expenses are 16% of sales, administrative expenses are 11% of sales, and both are paid in the month of sale. Rent expense of $2,100 is paid monthly. Depreciation expense is $1,400 per month. Prepare a schedule of budgeted cash payments for August and September.
| HECTOR COMPANY | ||
| Budgeted Cash Payments | ||
| For August and September | ||
| August | September | |
| Payments for: | ||
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