Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $165,800 April 152,500 May 138,800 Depreciation, insurance, and property taxes represent $35,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 59% 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. Required:Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May.

Tadpole Learning Systems Inc.

Schedule of Cash Payments for Selling and Administrative Expenses:

                                                        March           April          May

59% paid in the month                 $77,172     $69,325     $61,242

Balance in the following month                     $53,628     $48,175

Total                                             $77,172    $122,953   $109,417

Explanation:

a) Data and Calculations:

                                                        March           April          May

Selling and admin. expenses      $165,800   $152,500   $138,800

Depreciation, insurance, and

 property taxes                              35,000       35,000       35,000

Remainder                                  $130,800     $117,500   $103,800

59% paid in the month                 $77,172     $69,325     $61,242

Balance in the following month                     $53,628     $48,175

Total                                              $77,172    $122,953   $109,417