BOOK 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 $116,700 April 110,900 May 100,900 Depreciation, insurance, and property taxes represent $25,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be pad 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 peld in the following month Prepare a schedule of cash payments for selling and administrative expenses for March April, and May Horizon Financial Inc. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March experies: Paid In March Pald in April April cxpenses Paid in April Paid in May May expenses Paid in May Total cash payments D