Required information

Miscellaneous $($fixed$)$

$$2,800$

$-$The capital expenditures budget indicates that Vernon will spend $$237,600$ on October $1$ for store fixtures, which are expected have a $$36,000$ salvage value and a three$-$year $(36-$ month$)$ useful life.

Use this information to prepare a selling and administrative expenses budget.

f$.$ Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses.

g$.$ Vernon borrows funds, in increments of $$1,000,$ and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of $1$ percent per month in cash the last day of the month. To be prudent, the company desires to maintain a $$28,000$ cash balance. Prepare a cash budget.

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Sales Budget,October,November,December$],[$Cash sales,,,$],[$Sales on account,,,$],[$Total budgeted sales,,,$]]$

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MacBook AirRequired information

Miscellaneous $($fixed$)$

$$2,800$

$-$The capital expenditures budget indicates that Vemon will spend $$237,600$ on October $1$ for store fixtures, which are have a $$36,000$ salvage value and a three$-$year $(36-$ month$)$ useful life.

Use this information to prepare a selling and administrative expenses budget.

f$.$ Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in are incurred. Prepare a cash payments budget for selling and administrative expenses.

g$.$ Vernon borrows funds, in increments of $$1,000,$ and repays them on the last day of the month. Repayments may be ma amount available. The company also pays its vendors on the last day of the month. It pays interest of $1$ percent per mor the last day of the month. To be prudent, the company desires to maintain a $$28,000$ cash balance. Prepare a cash bu

Complete this question by entering your answers in the tabs below.

Required A

Required B

Required C

Required D

Required E

Required $F$

Required G

The company expects to collect $100$ percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash recelpts.

$\backslash$table$[[$Schedule of Cash Receipts,October,November,December$],[$Current cash sales,,,$],[$Plus collections from accounts receivable,,,$],[$Total collections,,,$]]$

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MacBook AirRequired information

Miscellaneous $($fixed$)$

$$2,800$

$-$The capital expenditures budget indicates that Vernon will spend $$237,600$ on October $1$ for store fixtures, which have a $$36,000$ salvage value and a three$-$year $(36-$month$)$ useful life.

Use this information to prepare a selling and administrative expenses budget.

f$.$ Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month are incurred. Prepare a cash payments budget for selling and administrative expenses.

g$.$ Vernon borrows funds, in increments of $$1,000,$ and repays them on the last day of the month. Repayments may be amount available. The company also pays its vendors on the last day of the month. It pays interest of $1$ percent per $n$ the last day of the month. To be prudent, the company desires to maintain a $$28,000$ cash balance. Prepare a cash

Complete this question by entering your answers in the tabs below.

as

Required A

Required B

Requghired C

Required D

Required F

Required G

The cost of goods sold is $60$ percent of sales. The company desires to maintain a minimum ending inventory equal to $10$ percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $$13,600.$ Assume that all purchases are made on account. Prepare an inventory purchases budget.

$\backslash$table$[[$Inventory Purchases Budget,October,November,December$],[,,,],[,,,],[$Inventory needed,,,$],[,,,],[$Required purchases $($on account$),,,]]$

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MacBook AirRequired information

Miscellaneous $($fixed$)$

$$2,800$

'The capital expenditures budget indicates that Vernon will spend $$237,600$ on October $1$ for store fixtures, whicl have a $$36,000$ salva