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Hector Company reports the following: July August September Sales $ 33,000 $ 41,000 $ 45,000 Purchases 19,470 24,190 33,000 Payments for purchases are made in
Hector Company reports the following: |
July | August | September | ||||
Sales | $ | 33,000 | $ | 41,000 | $ | 45,000 |
Purchases | 19,470 | 24,190 | 33,000 | |||
Payments for purchases are made in the month after purchase. Selling expenses are 20% of sales, administrative expenses are 8% of sales, and both are paid in the month of sale. Rent expense of $2,000 is paid monthly. Depreciation expense is $1,500 per month. |
Prepare a schedule of budgeted cash disbursements for August and September.
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