820 Jx 12500 A B C D F G H I 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 $3,750 $5,100 6 Sales on account 25,000 30,000 40,000 7 Total Sales $26,600 $33,750 $45,100 B 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 18 Month following purchase 60% 40%