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Ruddy is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. Allitems are paid when
Ruddy is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. Allitems 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. August September Salary expense Sales commissions (4 percent of sales) Supplies expense Utilities Depreciation on store equipment Rent Miscellaneous $17,900 $17,900 2,900 350 2,500 2,600 5,900 650 2,900 320 2,500 2,600 5,900 650 $17,900 2,900 380 2,500 2,600 5,900 650 Total S&A expenses before interest $32.770 $32.800 $32,830 Required a. Prepare a schedule of cash payments for selling and administrative expenses. Schedule of Cash Payments for S&A Expenses July August September Salary expense Sales commissions Supplies expense Utilities Depreciation on store equipment Rent Total payments for S&A expenses
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