All costs are paid in month incurred except: direct materials, which are paid in the month following the purchase; utilities, which are paid in the month after incurred; and property taxes, which are prepaid for the year onJanuary 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1. Prepare a schedule of cash payments for Elwood for January, February,and March.

Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31.

Next question Elwood Company has the following projected costs for manufacturing and selling and administrative expenses: (Click the icon to view the projected costs.) Prepare a schedule of cash payments for Elwood for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (Assume the company started operations in January. If an input field is not used in the table leave the input field empty; do not enter a zero.) - January February March Total Data table Cash Payments Direct Materials: January February March Direct materials purchases 3,900 $ 4,000 $ 4,600 Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March 3,300 3,700 3,500 200 200 200 Total payments for direct materials 850 850 850 Direct labor costs Depreciation on plant Utilities for plant Property taxes on plant Depreciation on office Utilities for office 120 120 120 Direct Labor: 300 300 300 Total payments for direct labor 350 350 350 Property taxes on office 120 120 120 Office salaries 3,000 3,000 3,000 All costs are paid in month incurred except: direct materials, which are paid in the month following the purchase; utilities, which are paid in the month after incurred; and property taxes, which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1