1. Schedule of Cash Payments

   Excel Learning Systems Inc. was organized on September 30, 2016. Projected selling and administrative expenses for each of the first three months of operations are as follows:

   October	$184,800
   November	173,700
   December	158,100

   Depreciation, insurance, and property taxes represent $40,000 of the estimated monthly expenses. The annual insurance premium was paid on September 30, and property taxes for the year will be paid in June. The company expects that 75% of the remainder of the expenses will be paid in the month in which they are incurred, with the balance to be paid in the following month.

   Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, and December.

   Excel Learning Systems Inc.
   Schedule of Cash Payments for Selling and Administrative Expenses
   For the Three Months Ending December 31, 2016
   	October	November	December
   October expenses:
   Paid in October
   Paid in November
   November expenses:
   Paid in November
   Paid in December
   December expenses:
   Paid in December
   Total cash payments