Reference no: EM132517014

A restaurant reported the following information for the months of Aug, Sept, and Oct. Of the cost of sales, 75% is paid in the current month and the remainder is paid in the following month. Of the operating expenses, 98% is paid in the current month and the remainder in the following month.

                                          Aug                     Sept                          Oct

Sales Revenue:             $48,400              $49,880               $51,200

Cost of sales:              (18,392)               (18,954)             (19,456)

Operating expenses:           (24,684)         (25,439)             (26,112)

Operating income:             $5,324              $5,487                $5,632

Question 1: List and calculate the total cash payments for the months of Sept and Oct