Sales Purchases July August $26,000 $34,000 16,640 21,760 September $38,000 26,000 Payments for purchases are made in the month after purchase. Selling expenses are 19% of sales, administrative expenses are 10% of sales, and both are paid in the month of sale. Rent expense of $3,200 is paid monthly. Depreciation expense is $1,400 per month Prepare a schedule of budgeted cash payments for August and September HECTOR COMPANY Budgeted Cash Payments For August and September August September Payments for