22-14 F22-18 E22-1 ALGO E22-2 ALGO 22-3 ALGO 22-4 ALGO 22-6 ALGO X22-2 ALGO 22-6 ALGO Schedule of Cash Payments Excel Learning Systems Inc. was organized on September 30, 2016 Projected seling and administrative expenses for each of the first three months of operations are as October November December $160,700 152,700 139,000 Depreciation, insurance, and property taxes represent $35,000 of the estimated monthly expenses. The annual insurance premium was paid on September 30, and property taxes for the year will be paid in June. The company expects that 69% of the remainder of the expenses will be paid in the manth in which they are cured with the balance to be paid in the following month Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, and December Excel Leaming Systems Schedule of Cash Payments for Seling and Administrative Expenses For the Three Months Ending December 31, 2016 October November December X-22-19 ALGO x22-20 ALGO E21-1 ALGO E21-2 ALGO E21-3ALGO E21-4 ALGO 21-5 ALGO E21-6 ALGO October expenses Paid in October Paid in November November expenses: Paid in November Paid in December December expenses: Paid in December Total cash payments 00 100 0 Previous Next