Use the following data to determine the company's cash payments for August and September:?JulyAugustSeptemberSales ……………………………$24,000$32,000$36,000Purchases………………………$14,400$19,200$21,600Payments for purchases……………………One month after purchaseSelling expenses……………………………15% of sales, paid in the month of saleAdministrative expenses…………………10% of sales, paid in the month of saleRent expense………………………………$2,400 per monthEquipment depreciation……………………$1,300 per month
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| Cash payments: | August | September |
| Purchases………………………… | $14,400 | $19,200 |
| Selling expenses…………………… | 4,800 | 5,400 |
| Administrative expenses………… | 3,200 | 3,600 |
| Rent expenses…………………… | 2,400 | 2,400 |
| Total payments…………………… | $24,800 | $30,600 |
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