Hector Company reports the following: Sales Purchases July $23,000 14,260 August $31,000 19,220 September $35,000 23,000 Payments for purchases are made in the month after purchase. Selling expenses are 16% of sales, administrative expenses are 8% of sales, and both are paid in the month of sale. Rent expense of $2,500 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:
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