Horizon Financial Inc. was organized on February 28, 2016. Projected selling and administrative expenses for each of the

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Horizon Financial Inc Was Organized On February 28 2016 Projected Selling And Administrative Expenses For Each Of The 1 (38.68 KiB) Viewed 13 times

Horizon Financial Inc. was organized on February 28, 2016. Projected selling and administrative expenses for each of the first three months of operations are as follows: March April May Depreciation, insurance, and property taxes represent $9,000 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. Seventy percent 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 indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers. Horizon Financial Ind Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31, 2016 March April May March expenses: Paid in March Paid in April April expenses: Paid in April Paid In May May expenses: Paid In May $52,400 64,200 68,900 Total cash payments Check My Work Previous Tuhmit ferienment for Grad