a Exercise 2 - budgeted 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 April May $52,400 64,200 68,900 Estimated monthly expenses for depreciation, insurance, and property taxes $9,000 The annual insurance premium was paid on February 28 Property taxes for the year will be paid in June. Percent of the remainder of expenses to be paid in the month they are incurrec 75% Balance is paid the month after expenses are incurred $ What are budgeted cash payments in March? What are budgeted cash payments in April? What are budgeted cash payments in May? 696