The Denver Corporation has forecast the following sales for the first seven months of the year:

January	$	21,000	May	$	21,000
February		23,000	June		27,000
March		25,000	July		29,000
April		31,000

Monthly material purchases are set equal to 20 percent of forecasted sales for the next month. Of the total material costs, 30 percent are paid in the month of purchase and 70 percent in the following month. Labor costs will run $5,100 per month, and fixed overhead is $7,500 per month. Interest payments on the debt will be $4,100 for both March and June. Finally, the Denver salesforce will receive a 1.00 percent commission on total sales for the first six months of the year, to be paid on June 30.

Prepare a monthly summary of cash payments for the six-month period from January through June. (Note: Compute prior December purchases to help get total material payments for January.)

Denver Corporation Cash Payments Schedule
	December	January	February	March	April	May	June	July
Sales		$	$	$	$	$	$	$
Purchases	$	$	$	$	$	$	$
Payments:
Payment for material purchases		$	$	$	$	$	$
Monthly labor cost
Monthly fixed overhead
Interest expense
Sales commission expense
Total payments		$	$	$	$	$	$