Problem 4-21 Schedule of cash payments (L04-2) Check my we The Denver Corporation has forecast the following sales for the first seven months of the years January 12,000 February 20 10,00 April May 2. June . July 14.00 Monthly material purchases are set equal to 20 percent of forecast sales for the next month of the total material costs. 30 percentate paid in the month of purchase and 70 percent in the following month Laborcons will run 55,600 per month and fedt ovadis $10,000 per month. Interest payments on the debt will be $4600 for both Mardi and June rally, the Denver Salesforce will receive 100 percent commission on total sales for the first six months of the year to be paid on June 30 Prepare a monthly summary of cash payments for the month period from onery tough June (Notec Compute prior December purchases to help get total material payments for January December Denver Corporation Cash Payment Schedule January February March April 2 os 20.000 OTS 05 5.000 6 000 12001 5.200 June May 26000 cool July BO Puchons 5200 000