Schedule of cash payments for a service company

Horizon Financial Inc. was organized on February $28.$ Projected selling and administrative expenses for each of the first three months of operations are as follows:

are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.

Prepare a schedule of cash payments for selling and administrative expenses for March, April, and May.

Horizon Financial Inc.

Schedule of Cash Payments for Selling and Administrative Expenses

For the Three Months Ending May $31$

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$$ Check My Work

First calculate cash expenses by subtracting noncash expenses. Then, apply the appropriate percentages to each month.