Cash Disbursement Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale. Additionally, a monthly lease payment of $44,000 is paid for computer services. Sales revenue is forecast as follows Month Sales Revenue February $200,000 March 240,000 April 250,000 May 290,000 June 270,000 July 310,000 Required Prepare a schedule of cash disbursements for April, May, and June. Do not use a negative sign with your answers. Timber Company Schedule of Cash Disbursements April, May, and June April May June Lumbers purchases $ 250,000 X $ 290,000 x $ 270,000 X Wages 203,000 x Operating expenses 37,500 x Lease payment 12,000 x Total disbursements $ 277,500 x $ 0 X 0 X Check