Sage learning systems inc. was organized on September 30 2012. Projected selling and administrative expenses for each of the first three months of operations
are as follows:
October $67500
November 75000
December 88100
Depreciation insurance and property taxes represent $9000 of the estimated monthly expenses. The annual insurance premium was paid on September 30 and the
property taxes for the year will be paid in june. 60% of the remainder of the expenses are expected to be paid in the month in which they incurred with the
balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for October November December.