Exercise 7-11A (Algo) Preparing a schedule of cash payments for selling and administrative expenses LO 7-4 The budget director for Franklin Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations; accordingly, there are no beginning account balances. Required a. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. b. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. October November December $ 6,900 $ Budgeted S&A Expenses Equipment lease expense Salary expense Cleaning supplies 6,900 $ 6,200 5,700 6,900 6,600 3,080 1,600 2,860 1,600 Insurance expense 2,740 1,600 1,700 2,200 Depreciation on computer 1,700 2,200 1,700 2,200 Rent 760 760 760 $ 21,720 $ 22,100 $ 22,840 Miscellaneous expenses Total operating expenses Schedule of Cash Payments for S&A Expenses Equipment lease expense Prior month's salary expense, 100% Cleaning supplies Insurance premium Depreciation on computer Rent Miscellaneous expenses Total disbursements for operating expenses $ 22,320 $ 18,300 $ 19,140 ReqA Req B and C > Exercise 7-11A (Algo) Preparing a schedule of cash payments for selling and administrative expenses LO 7-4 The budget director for Franklin Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations, accordingly, there are no beginning account balances. Required a. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. b. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this question by entering your answers in the tabs below. Req A Req B and C Determine the amount of salaries payable and prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter. b. Salaries payable c. Prepaid insurance