Jordan is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expen

[answerhappygod]

Jordan Is A Retail Company Specializing In Men S Hats Its Budget Director Prepared The List Of Expected Operating Expen 1 (208.3 KiB) Viewed 26 times

Jordan is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when incurred except sales commissions and utilities, which are paid in the month following their incurrence. July is the first month of operations, so there are no beginning account balances. Salary expense July $18,800 3,600 August September $18,800 $18,800 3,600 Sales commissions (4 percent of sales) 3,600 Supplies expense 280 310 340 Utilities 2,800 2,800 2,800 Depreciation on store equipment 2,400 2,400 2,400 Rent 6,700 6,700 6,700 Miscellaneous 790 790 790 Total S&A expenses before interest $35,370 $35,400 $35,430 Required a. Prepare a schedule of cash payments for selling and administrative expenses. b. Determine the amount of utilities payable as of September 30. c. Determine the amount of sales commissions payable as of September 30. Req A Req B and C Prepare a schedule of cash payments for selling and administrative expenses. Schedule of Cash Payments for S&A Expenses July August September Miscellaneous Rent Salary expense Sales commissions Supplies expense Utilities Total payments for S&A expenses $ 0 $ 0 < Req A Req B and C > Req A Req B and C Determine the amount of utilities payable and sales commissions payable as of September 30. b. Utilities payable C. Sales commissions payable < Req A Req B and C > 0 $