1. Prepare a sales budget, including a schedule of expected cash collections. 2. Prepare a direct materials budget, including a schedule of expected cash disbursements for purchases of materials. 3. Prepare a cash budget. B C D E & P Enterprises needs a cash budget for March. The following information is available. January February March Jata \ctual January and February and expected March sales: ash sales ales on account otal Sales $ 1,600 $ 3,750 $ 5,100 25,000 30,000 40,000 25,500 22.750 $45.100 Accounts Receivable Collections: Month of sale Month following sale Second month following sale Uncollectible 1595 6096 2296 396 $10,500 $23,500 Accounts payable for inventory purchases, March 1 balance ludgeted inventory purchases in March nventory payments: Month of purchase Month following purchase 6096 4096 . otal budgeted selling & administrative expenses in March ludgeted selling & administrative depreciation in March $12,500 $3,200 Other budgeted cash disbursements in March Equipment purchases $14,000 Dividends to be paid $2,000 Minimum cash balance to be maintained $10,000 March 1 cash balance $11,500 March 1 outstanding borrowings $o March 1 interest due $0 The company has a line of credit available to bolster the cash balance as needed. Vhen preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month xpected cash collections: March cash collections March collections on account: January sales February sales March sales otal cash collections Yayments to suppliers: Accounts payable for inventory purchases, beginning balance Aarch purchases otal cash payments S&P Enterprises Cash Budget For the Month of March Lash balance, March 1 Idd cash receipts: Collections from customers otal cash available ess disbursements: Payments to suppliers Selling and administrative expenses Equipment purchases Dividends paid otal disbursements 'reliminary cash balance inancing: Additional loan Loan repayments Interest otal financing ash balance, March 31