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Use the following data to determine the company's cash payments for August and September: July August September Sales $ 24,000 $ 32,000 $ 36,000 Purchases
Use the following data to determine the company's cash payments for August and September:
July
August September
Sales
$ 24,000 $ 32,000 $ 36,000
Purchases $ 14,400 $ 19,200 $ 21,600
Payments for purchases One month after purchase
Selling expenses
15% of sales, paid in the month of sale
Administrative expenses 10% of sales, paid in the month of sale
Rent expense
$2,400 per month
Equipment depreciation $1,300 per month
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