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Requirement 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2024. Assume 40% of the accrual for
Requirement 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2024. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January Salaries and commissions are paid 60% in the month incurred and 40% in the following month Rent and income tax expenses are paid as incurred Insurance expense is an expiration of the prepaid amount (Round your answers to the nearest whole number) A
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