The following expenses budget has been prepared for Abacus Services for the year ending 30 June 2020.

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The following expenses budget has been prepared for Abacus Services for the year ending 30 June 2020.

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Professional salaries, secretarial wages and training are paid in the quarter in which they are incurred. Office supplies, electricity and travel are paid in the quarter after they are incurred and in the June 2019 quarter were $5000, $1500 and $42 000 respectively. Rent is paid in the quarter before it is incurred and for the September 2020 quarter is budgeted at $26 000. Insurance is paid annually at the beginning of January and is expected to remain at the same level for the next year.
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Prepare a schedule of estimated cash payments for expenses for Abacus Services for the year ending 30 June 2020.

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Accounting

ISBN: 9780730363224

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Beattie Claire, Hellmann Andreas, Maxfield Jodie

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