1. Use the Budget Data tab to complete the Schedules and Cash Budget tab. Formulas must be entered so that all cash flow amounts are positive numbers. Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel FILE HOME INSERT Paste Clipboard A1 *| Calibri BIU- . 11 PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Alignment Number Font Conditional Format as Cell Formatting Table Styles Styles Cells Editing fx S&P Enterprises needs a cash budget for March. The following information is v A D E 1 S&P Enterprises needs a cash budget for March. The following information is available. 2 3 Data January February March 4 Actual January and February and expected March sales: 5 Cash sales $ 1,600 $ 6 Sales on account 25,000 30,000 3,750 $5,100 40,000 7 Total Sales 8 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 13 Uncollectible 14 15 Accounts payable for inventory purchases, March 1 balance 16 Budgeted inventory purchases in March 17 Inventory payments: $ 26,600 $ 33,750 $ 45,100 15% 60% 22% 3% $10,500 $23,500 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 $3,200 23 24 Other budgeted cach dichurcamente in March READY Attempt(s) Budget Data Schedules and Cash Budget 100% Hint A 24 Other budgeted cash disbursements in March Equipment purchases 25 26 Dividends to be paid 27 28 Minimum cash balance to be maintained 29 March 1 cash balance 30 March 1 outstanding borrowings 31 March 1 interest due 32 B D E $14,000 $2,000 $10,000 $11,500 $0 $0 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 36 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 39 2. Schedule of expected cash disbursements for inventory purchases for March. 40 41 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. 42 43 44 45 Budget Data Schedules and Cash Budget READY + + 100% Attempt(s) Hint