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Schedule of Cash Payments

Shakti Power Inc. was organized on February $28.$ Projected selling and administrative expenses for each of the first three months of operations are as follows:

March $$75,000$

April $83,000$

May $95,000$

Depreciation, insurance, and property taxes represent $$6,000$ of the estimated monthly expenses. The annual insurance premium was paid on February $28,$ and property taxes for the year will be paid in November. Seventy percent of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question wbelow. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers.