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Rundle is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are
Rundle 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 Supplies expense $17,600 July August $17,600 September $17,600 Sales commissions (4 percent of sales) 2,100 2,100 2,100 340 370 400 Utilities 1,600 1,600 1,600 Depreciation on store equipment 3,700 3,700 3,700 Rent 6,700 6,700 6,700 Miscellaneous 740 740 740 Total S&A expenses before interest $32,780 $32,810 $32,840 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 Req B and C Prepare a schedule of cash payments for selling and administrative expenses. Schedule of Cash Payments for S&A Expenses Salary expense Sales commissions Supplies expense Utilities Rent July August September $ 17,600 $ 17,600 $ 17,600 0 2,100 2,100 340 370 400 6,700 6,700 6,700 Total payments for S&A expenses $ 24,640 $ 26,770 $ 26,800
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