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Schedule of Cash Payments Organic Physical Therapy Inc. is planning its cash payments for operations for the three months ending March 31. The Accrued Expenses
Schedule of Cash Payments Organic Physical Therapy Inc. is planning its cash payments for operations for the three months ending March 31. The Accrued Expenses Payable balance on January 1 is $12,000. The budgeted expenses for the next three months are as follows: January February March Salaries $40,000 $45,000 $60,000 Utilities 10,000 12,000 15,000 Other operating expenses 7,000 8,000 9,000 Total $57,000 $65,000 $84,000 Other operating expenses include $2,000 of monthly depreciation expense and $1,000 of monthly insurance expense that was prepaid in the prior year. Of the remaining expenses, 75% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. Enter all amounts as positive numbers. ORGANIC PHYSICAL THERAPY INC. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February Payments of prior month's expense March Payment of current month's expense Total payment
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