The Prince Albert Corporation has forecast the following sales for the first seven months of the year.

January	$	10,000		May	$	10,000
February		12,000		June		16,000
March		14,000		July		18,000
April		20,000

Monthly material purchases are set equal to 30 percent of forecasted sales for the next month. Of the total material costs, 40 percent are paid in the month of purchase and 60 percent are paid in the following month. Labour costs will run $4,000 per month, and fixed overhead is $2,000 per month. Interest payments on the debt will be $3,000 for both March and June. Finally, the Prince Albert sales people will receive a 1.5 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 months from January through June. (Note: Compute prior December purchases to help get total material payments for January.)

Prince Albert Corporation Cash Payments Schedule
	December	January	February	March	April	May	June	July
Sales		$	$	$	$	$	$	$
Purchases	$
Current month payment
Prior month payment
Total payment for materials
Labour costs
Fixed overhead
Interest payments
Sales commission
Total cash payments		$	$	$	$	$	$