Total Flex Physical Therapy Inc. is planning its cash payments for operations for the fourth quarter (October–December), 2009. The Accrued Expenses Payable balance on October 1 is $22,600. The budgeted expenses for the next three months are as follows:
|
|
October |
November |
December |
|
Salaries |
$ 58,200 |
$ 63,500 |
$ 74,500 |
|
Utilities |
5,300 |
5,600 |
7,100 |
|
Other operating expenses |
44,700 |
52,800 |
62,700 |
|
Total |
$108,200 |
$121,900 |
$144,300 |
Other operating expenses include $10,500 of monthly depreciation expense and $600 of monthly insurance expense that was prepaid for the year on March 1 of the current year. Of the remaining expenses, 80% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on October 1 relates to the expenses incurred in September.
Prepare a schedule of cash payments for operations for October, November, and December.