from Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and March $141,300 130,000 118,300 April May Depreciation, Insurance, and property taxes represent $30,000 of the estimated monthly expenses. The annual Insurance premium was paid on February 28, and the year wll be paid in lune, 69% 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 flowing month. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March May Pa March expenses: Paid in March Paid in April April expenses: Paid in Apr Pald in May May expenses: Pald in May Previous Check ay Work