Maynard Company has the following projected costs for manufacturing and selling and administrative expenses: epay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 14% E: (Click the icon to view the projected costs.) Prepare a schedule of cash payments for Maynard for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (If a box is_ - X January February March Total Data Table X Cash Payments cash budget to the nearest whole dollar. Enter a cash deficiency and/or negative Direct Materials: Accounts Payable balance, January 1 January February March JanuaryDirect material purchases paid in February Direct materials purchases $ 3,500 $ 4,100 $ 4.100 February-Direct material purchases paid in March Direct labor costs 2.700 3,500 4,300 March Total Total payments for direct materials Depreciation on plant 400 400 400 Utilities for plant 560 560 560 100 43,000 91.000 Direct Labor: Property taxes on plant 150 150 150 Depreciation on office 550 550 550 Total payments for direct labor Utilities for office 320 320 320 100 34,000 111,000 Property taxes on office 110 110 110 Office salaries 4.500 4,500 4,500 All costs are paid in month incurred except: direct materials, which are paid in the month following the purchase, utilities, which are paid in the month after incurred; and property taxes, which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1. 00) (3,500)|| (3,500) Print Done Enter any number in the edit fields and then click Check Answer. ? parts remaining Clear All month of the sale and 50% in the following month. The Maynard Company has the following projected costs for manufacturing and selling and administrative expenses: (Click the icon to view the projected costs.) Prepare a schedule of cash payments for Maynard for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (If a box is not used in the table leave the box empty; do not enter a zero.) January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March Total payments for direct materials Direct Labor: Total payments for direct labor February-Credit sales, collection of February sales in March March-Cash sales MarchCredit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April