Business, 11.11.2020 17:50 aallyssabrown0120

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: March $160,800
April 152,800
May 139,000
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. 73% 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.

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

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