2 S&P Enterprises needs a cash budget for March. The following information is available Data 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales D G H January February March $1,600 $3,750 $5,100 25,000 30,000 40,000 $26,600 $33,750 $45,100 8 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 Accounts payable for inventory purchases, March 1 balance $10,500 15 Budgeted inventory purchases in March $23,500 16 Inventory payments: 17 Month of purchase 10 Month following purchase 19 20 Total budgeted selling & administrative expenses in March (including depreciation) $12,500 21 Budgeted depreciation in March (included in total selling and admin exp) $3,200 22 60% 40% 23 Other budgeted cash disbursements in March 24 Equipment purchases 25 Dividends to be paid 26 27 Minimum cash balance to be maintained 28 March 1 cash balance 29 March 1 outstanding borrowings 30 March 1 interest due $14,000 $2,000 $10,000 $11,500 50 50 A1 S&P Enterprises needs a cash budget for March. The following information is available. c D G H x 50 29 March 1 outstanding borrowings 30 March 1 interest due 31 22 The company has a line of credit available to bolder the cash balance as needed. 33 34 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules 35 36 Required: 37 Click the Schedules and Cash Budget tab to prepare the following: 31. Schedule of expected cash collections for March. 39 2. Schedule of expected cash disbursements for inventory purchases for March 40 41 4 S. 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. (Use cells A4 to 07 and A10 to 830 from the given information, as well as A3 to C34 from the Schedules and Cash Budget to 43 complete this question.) 4 45 47 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. 4 Nothing in this area will be graded, but it will be submitted with your assignment. 40 50 51 52 33 34 15 " Budget Data Schedules and Cash Budget +