A1 fx S\&P Enterprises needs a cash budget for March. The following information is available. Accounts Receivable Collections: \begin{tabular}{l|r} \hline Month of sale & 15% \\ \hline Month following sale & 60% \\ \hline Second month following sale & 22% \\ \hline Uncollectible & 3% \\ \hline Accounts payable for inventory purchases, March 1 balance & $10,500 \\ \hline Budgeted inventory purchases in March & $23,500 \\ \hline \end{tabular} Inventory payments: Month of purchase 60% Month following purchase 40% Total budgeted selling \& administrative expenses in March (including depreciation) $12,500 Budgeted depreciation in March (included in total selling and admin exp) $3,200 Other budgeted cash disbursements in March Equipment purchases Dividends to be paid $14,000 $2,000 Minimum cash balance to be maintained March 1 cash balance March 1 outstanding borrowings March 1 interest due $10,000 $11,500 $0 Budget Data Schedules and Cash Budget + 23 Other budgeted cash disbursements in March Equipment purchases Dividends to be paid $14,000$2,000 Minimum cash balance to be maintained $10,000 March 1 cash balance $11,500 March 1 outstanding borrowings $0 March 1 interest due $0 The company has a line of credit available to bolster the cash balance as needed. When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. Required: Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 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. (Use cells A4 to D7 and A10 to B30 from the given information, as well as A3 to C34 from the Schedules and Cash Budget to 43 complete this question.) 44 45 46 Budget Data Schedules and Cash Budget + Calculation Mode: Automatic Workbook Statistics