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Please fill in boxes and show the answers clearly, will leave good review :D Walton is a retail company specializing in men's hats. Its budget
Please fill in boxes and show the answers clearly, will leave good review :D
Walton is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when incurred except sales commissions and utilities, which are paid in the month following their incurrence. July is the first month of operations, so there are no beginning account balances. Salary expense Sales commissions (4 percent of sales) Supplies expense Utilities Depreciation on store equipment Rent Miscellaneous Total S&A expenses before interest July $17,800 2,600 340 1,700 3,200 6,600 August $17,800 2,600 370 1,700 3,200 6,600 750 $33,020 September $17,800 2,600 400 1,700 3,200 6,600 750 $33,050 750 $32,990 Required a. Prepare a schedule of cash payments for selling and administrative expenses. b. Determine the amount of utilities payable as of September 30. c. Determine the amount of sales commissions payable as of September 30. Req A Reg B and C Prepare a schedule of cash payments for selling and administrative expenses. Schedule of Cash Payments for S&A Expenses July August September Total payments for S&A expenses Req A Reg B and C Determine the amount of utilities payable and sales commissions payable as of September 30. b. Utilities payable Sales commissions payable CStep by Step Solution
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