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Hector Company reports the following: July August September Sales $ 33,000 $ 41,000 $ 45,000 Purchases 19,800 24,600 33,000 Payments for purchases are made in
Hector Company reports the following: July August September Sales $ 33,000 $ 41,000 $ 45,000 Purchases 19,800 24,600 33,000 Payments for purchases are made in the month after purchase. Selling expenses are 20% of sales, administrative expenses are 10% of sales, and both are paid in the month of sale. Rent expense of $1,500 is paid monthly. Depreciation expense is $1,700 per month. Prepare a schedule of budgeted cash disbursements for August and September.
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