schedule of cash payments for a service company safemark financial inc. was organized on february 28. projected selling and administrative expenses for each of the first three months of operations are as follows: march $103,700 april 95,400 may 86,800 depreciation, insurance, and property taxes represent $22,000 of the estimated monthly expenses. the annual insurance premium was paid on february 28, and property taxes for the year will be paid in june. 73% 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 selling and administrative expenses for march, april, and may.
