(Answered) Problem - during august 2017 packer manufacturing had the

Accounting

Problem - During August 2017, Packer Manufacturing had the following cash receipts and disbursements:

Cash received from customers - $319,000

Cash received from selling equipment - 11,200

Cash paid for salaries - 47,000

Cash paid to suppliers for inventory purchases - 130,000

In addition, the following balance sheet account balances were sown on Packer's books:

	July 31	August 31
Accounts receivable	$128,000	$135,000
Inventory	33,000	25,000
Accounts payable	21,000	25,000
Salaries payable	8,000	5,000

Assume all sales an purchase are on account.

Required -

1. Determine sales for August 2017.

2. Determine salary expense for August 2017.

3. Determine cost of goods sold for August 2017.

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