Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 64

Hector Company reports the following sales and purchases data. Payments for purchases are made in the month after purchase. Selling expenses are 10% of sales, administrative expenses are 8% of sales, and both are paid in the month of sale. Rent expense of $7,400 is paid monthly. Depreciation expense is $2,300 per month. Prepare a schedule of budgeted cash disbursements for August and September.