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Estimated cash payments budget Grow Inc. was organized on February 28. Budgeted selling and administrative expenses for each of the first three months of operations
Estimated cash payments budget Grow Inc. was organized on February 28. Budgeted selling and administrative expenses for each of the first three months of operations are as follows: Month Amount March $167,900 April 159,500 May 145,100 Depreciation, insurance, and property taxes represent $36,000 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. The remainder of the expenses are expected to be paid 61% in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers
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