the following is budgeted information for riley company for january year 2: sales $ 880,000 cost of goods sold 620,000 utilities expense 4,100 administrative salaries 180,000 sales commissions 5 % of sales advertising 36,000 depreciation on store equipment 66,000 rent on administration building 76,000 miscellaneous administrative expenses 26,000 percentage of sales on credit 80 % all operating expenses are paid in cash in the month incurred. the amount of expected cash outflow for selling and administrative expenses would be: multiple choice $414,500. $391,500. $492,500.
