Schedule of Cash Payments for a Service Company Oakwood Financial Ine was orpanized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: Depreciation, insurance, and property taxes represent $7,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28 , and propert taxes for the yesp will be pald in June. Sixty percent of the remainder of the expenses 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 indicating cash payments for seiling and administrative expenses for March, April, and May. Oakwood Financial Inc