Requirement 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2018. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. (Round your answers to the nearest whole number.) Watercooler Company Budgeted Cash Payments for Selling and Administrative Expenses Two Months Ended February 28, 2018 January February Variable expenses: Onni - I-- -----ILI. -------- -- 70% of current month's Commission Expense Total payments for variable expenses Fixed expenses 30% of last month's Salaries Expense 70% of current month's Salaries Expense Rent expense Total payments for fixed expenses Total payments for S and A expenses Requirement 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2018. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. (Round your answers to the nearest whole number.) Watercooler Company Budgeted Cash Payments for Selling and Administrative Expenses Two Months Ended February 28, 2018 January February Variable expenses: Onni - I-- -----ILI. -------- -- 70% of current month's Commission Expense Total payments for variable expenses Fixed expenses 30% of last month's Salaries Expense 70% of current month's Salaries Expense Rent expense Total payments for fixed expenses Total payments for S and A expenses