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    Operation Budget

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    The following budgeted information is available for the Top Cost Clothing Company for January 2005.
    Salaries $120,000
    Rent 9,000
    Utilities 1,200
    Depreciation $3,200
    Other Expenses 1,500
    Purchases 380,000

    Selling and administrative expenses are paid in the month incurred and purchases are paid in the month following the purchase. Purchases for December 2004 are $350,000. No equipment purchases or additional expenditures are made during the month.
    Required: Prepare a cash payment schedule for January 2005.

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    Solution Preview

    Salaries $120,000 
    Rent 9,000 
    Utilities 1,200 
    Depreciation $3,200 
    Other Expenses 1,500 
    Purchases 380,000 

    Selling and administrative expenses are paid in the ...

    Solution Summary

    The solution assists in computing Operation Budget.

    $2.19

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