Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling a

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Schedule of cash payments for a service company
Horizon Financial Inc. was organized on February 28. Projected
selling and administrative expenses for each of the first three
months of operations are as follows:
Depreciation, insurance, and property taxes represent $35,000 of
the estimated monthly expenses. The annual insurance premium was
paid on February 28, and property taxes for the year will be paid
in June. 71% of the remainder of the expenses are expected to be
paid in the month in which they are incurred, with the balance to
be paid in the following month.
Prepare a schedule of cash payments for selling and
administrative expenses for March, April, and May.