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the purchase. All of the accounts payable at June 3 0 will be paid in July. 4 . Monthly selling and administrative expenses are always
the purchase. All of the accounts payable at June will be paid in July.
Monthly selling and administrative expenses are always $ Each month $ of this total amount is depreciation expense and the remaining $ relates to expenses that are paid in the month they are incurred.
The company does not plan to borrow money or pay or declare dividends during the quarter ended September The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September
Required:
Prepare a schedule of expected cash collections for July, August, and September. Also, compute total cash collections for the quarter ended September
a Prepare a merchandise purchases budget for July, August, and September. Also, compute total merchandise purchases for the quarter ended September
b Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also, compute total cash disbursements for merchandise purchases for the quarter ended September
Prepare an income statement for the quarter ended September
Prepare a balance sheet as of September
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