4. Sherry Enterprisen expects its n: - 70% of ti - Past experience shows that 40% crodit. sale, and the remainder are collected in the second month are collected ia the month afler Sale, and the remainder are collected in the scoond month afticr sale. - Sherry pays its purchases in the following month. - Sherry had a cash balarce of $2,000 on March 1 , which is also its minimum required cash balance. - There is an outstanding loan of $2,000 on March 1. a) Prepare a schedule of cash receipts for March. April and May. (3pts) b) Prepare a schedule of cash payments for March. April and May. (1.5pts) c) Prepare a cash budget for March, April and May. (6pts) d) Based on the cash budget what loan limit would you rocommend? Explain bow yeu came to this amount. (4pts) e) What are the values of Sherry's accounts roceivable and accounts payable at the end of May (2.5pts) 2.a Sale Cas Crec