Accounting
Waqas Ahmed (Not rated)
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Exercise 20-11 Merchandising: Budgeted cash disbursements LO P1
| Hector Company reports the following: |
| July | August | September | ||||
| Sales | $ | 28,000 | $ | 36,000 | $ | 40,000 |
| Purchases | 17,360 | 22,320 | 28,000 | |||
Payments for purchases are made in the month after purchase. Selling expenses are 16% of sales, administrative expenses are 11% of sales, and both are paid in the month of sale. Rent expense of $1,800 is paid monthly. Depreciation expense is $1,400 per month. |
Prepare a schedule of budgeted cash disbursements for August and September. |
13 years ago
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