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what is the intrest on n/p for july , august, and september of the general and administrative expense budget ? General & Administrative Expense Budget
what is the intrest on n/p for july , august, and september of the general and administrative expense budget ?
General \& Administrative Expense Budget Catlett Manufacturing, Inc. 3rd Quarter 2021 dministrative Expenses Schedule of Cash Receipts Catlett Manufacturing, Inc. 3rd Quarter 2021 Monthly Sales (Dollars) 11 X Cash % 112 Monthly Cash Sales (Dollars) 113 114 Monthly Sales (Dollars) 115 X Credit \% 116 Monthly Credit Sales (Dollars) - A/R 117 \begin{tabular}{|r|r|r|} \hline \multicolumn{1}{|c|}{ July } & \multicolumn{1}{|c|}{ August } & \multicolumn{1}{|c|}{ September } \\ \hline$340,000 & $255,000 & $340,000 \\ \hline 0,30 & 0,30 & 0.30 \\ \hline$102,000 & $76,500 & $102,000 \\ \hline & & \\ \hline$340,000 & $255,000 & $340,000 \\ \hline 0.70 & 0.70 & 70,00 \\ \hline$238,000 & $178,500 & $238,000 \\ \hline \end{tabular} Monthly Cash Receipts: Cash Sales Collection of Prior Month A/R Total Monthly Receipts from Sales \begin{tabular}{|r|r|r|} \hline$102,000 & $76,500 & $102,000 \\ \hline 0 & 238,000 & 178,500 \\ \hline$102,000 & $314,500 & $280,500 \\ \hline \end{tabular} f. Monthly general and administrative expenses include $10,000 administrative salaries and 0.9% monthly interest on the long-term note payable. g. Sales representatives' commissions are 10% of sales and are paid in the month of the sales. The sales manager's monthly salary is $3,500. h. The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale) Step by Step Solution
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