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Schedule of cash payments for a service company Horizon Financial Inc....

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Accounting

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Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected seling and administrative expenses for each of the first three months of operations are as follows: Depreciation, insurance, and property taxes represent $36,000 of the estimated monthly expenses. The annual insurance premium was paid con february 28 , and property taxes for the year will be paid in June. 74% 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 of cash payments for selling and administrative expenses for March, April, and May

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