Chapter 7 - Homework eBook Calculator Print Item Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $28,000. The budgeted expenses for the next three months are as follows: January March Salaries $64,400 5,300 February $78,400 5,900 53,300 $86,800 7,000 Utilities Other operating expenses 48,900 58,700 Total $118,600 $137,600 $152,500 Other operating expenses include $3,500 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 75% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. Enter all amounts as positive numbers. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February March Total cash payments Check My Work 5 more Check My Work uses remaining. Assignment Score: 0.0% Save and Exit Submit Assignment for Grading