During August 2024, Eugene Manufacturing had the following cash receipts and disbursements: Cash...
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Accounting
During August 2024, Eugene Manufacturing had the following cash receipts and disbursements: Cash received from customers Cash received from selling equipment Cash paid for salaries Cash paid to suppliers for inventory purchase $350,000 11,200 47,000 140,000 In addition, the following balance sheet account balances were shown on Eugene's books: August 31 $140,000 July 31 $128,000 Accounts receivable Inventory Accounts payable Salaries payable 33,000 25,000 21,000 24,000 8,000 5,000 Assume all sales and purchases are on account. Required: 1. Determine sales for August 2024 2. Determine salary expense for August 2024. 3. Determine cost of goods sold for August 2024
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