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Problem 14-19 Preparing a schedule of cash payments for selling and administrative expenses LO 14-4 Finch is a retail company specializing in men's hats. Its
Problem 14-19 Preparing a schedule of cash payments for selling and administrative expenses LO 14-4 Finch 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 $18,200 3,600 260 2,800 300 6,900 August September $18,200 $18, 200 3,600 3,600 290 320 2,800 2,800 2,300 2,300 6,900 6,900 750 $34,840 $34, 870 750 $34,810 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. Complete this question by entering your answers in the tabs below. 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 $ 0 $ 0 $ 0 Req A Reg B and C Determine the amount of utilities payable and sales commissions payable as of September 30. b. Utilities payable C. Sales commissions payable
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