1. [Short-Term Financial Planning] The Itsar Products Company has made the following monthly estimates of cash receipts and cash disbursements, when preparing cash budgets for the next 12 months. Itsar Products has beginning cash on hand of $10,000 and wants to maintain this minimum cash level throughout the next year. CASH RECEIPTS $100,000 MONTH CASH DISBURSEMENTS January $100,000 February $90,000 $110,000 March $80,000 $110,000 April $100,000 $150,000 May $120,000 $180,000 June $160,000 $180,000 July $200,000 $180,000 August $250,000 $180,000 September $250,000 $150,000 October $200,000 $110,000 November $140,000 $100,000 December $100,000 $100,000 A. B. Determine whether Itsar Products will have a cash need during the next year. If Itsar Products has a cash need, indicate the month when the need will begin and determine the month and amount when the maximum need will occur. C. Determine whether the cash need (if any) can be repaid within the next year. 2. [Short-Term Financial Planning] Rework Problem 1 assuming minimum cash-on-hand requirements are $10,000 a month through May, increase to $15,000 in June and July, increase further to $20,000 in August and September, and return to the $10,000 per month level beginning in October. 3. Short-Term Financial Planning] The PDC Company was described earlier in this chapter. Refer to the PDC Company's projected monthly operating schedules in Table 6.2. PDC's sales are projected to be $80,000 in September 2020. A. Prepare PDC's sales schedule, purchases schedule, and wages schedule for August 2020. B. Prepare a cash budget for August 2020 for PDC and describe how the forecast affects the end-of-month cash balance.