October November December Budgeted Selling and Administrative Expenses Salary Expense 10,00010,50011,000 ...

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Accounting

October November December
Budgeted Selling and Administrative Expenses
Salary Expense 10,00010,50011,000
Sales Commissions, 5% of Sales 5,0005,5005,300
Insurance Expenses 2,0002,0002,000
Rent 2,4002,4002,400
Depreciation on Equipment 1,5001,5001,500
Utilities 1,1001,3001,500
Total Selling and Administrative Expenses 22,00023,20023,700
Schedule of Cash Payments for Selling and Administrative Expenses
Salary Expenses ?10,500?
100% of Prior Month Sales Commissions 5,100??
Insurance Expense 2,0002,0002,000
Rent ??2,400
100% of Prior Months Utilities Expenses 1,200??
Total Payments for Selling and Administrative Expenses ???
What is the amount of sales commissions payable that the company will report on its pro forma balance sheet at the end of the fourth quarter?
Multiple Choice
$11,000
$5,000
$5,300
$5,500

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