Schedule of Cash Payments EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March), 2015. The Accrued Expenses Payable balance on January 1 is $15,000. The budgeted expenses for the next three months are as follows:
January February March
salaries 56,900 68,100 72,200
Utilities 2,400 2,600 2,500
other operation expenses 32,300 112,200 119,400
Other operating expenses include $3,000 of monthly depreciation expense and $500 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March.