All answers must be submitted as equations

1. Prepare a sales budget, including a schedule of expected cash collections. 2. Prepare a direct materials budget, including a schedule of expected cash disbursements for purchases of materials. 3. Prepare a cash budget. X - FILE Sign In A X Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri - 11 | A A % 41 BIU- ED A Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Font Styles S&P Enterprises needs a cash budget for March. The following information is Paste Clipboard A1 F G H A D S&P Enterprises needs a cash budget for March. The following information is available 2 3 Data January Eebrazy March 4 Actual January and February and expected March sales: 5 Cash sales 5 1.600 $3,750 $ 5,100 6 Sales on account 25000 XX 40.000 7 Total Sales 26.400 S. 11.250 8.45.100 3 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 67% 12 Second month following sale 22% 13 Uncollectible 396 14 15 Accounts payable for inventory purchases, March 1 balance $10.500 16 Budgeted inventory purchases in March $23.500 17 Inventory payments: 18 Month of purchase 60% 19 Month following purchase 4096 20 21 Total budgeted selling & administrative expenses in March $12.500 22 Budgeted selling & administrative depreciation in March $3.200 Calibri - 11 A A in M Paste BIU- - Cells Editing Alignment Number Conditional Format as Cell Formatting" Table Styles Styles Clipboard Font > S&P Enterprises needs a cash budget for March. The following information is D E F G H H 1s & P Enterprises needs a cash budget for March. The following information is available. 2 3 Data January February March $1,600 $3,750 $ 5,100 25.00 30.000 400.000 $26.600 $33.750 5.65.100 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales 8 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 13 Uncollectible 15% 6096 22% 39 14 15 Accounts payable for inventory purchases, March 1 balance $10,500 16 Budgeted inventory purchases in March $23.500 17 Inventory payments: 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12.500 22 Budgeted Melling & administrative depreciation in March $3,200 23 21 Other budgeted cash disbursements in March 25 Equipment purchases $14.000 26 Dividends to be paid $2.000 27 28 Minimum cash balance to be maintained $10,000 29 March 1 cash balance $11,500 30 March 1 outstanding borrowing SO 31 March 1 interest due SO 32 Budget Data Schedules and Cash Budget READY MM Cabr - 11 A A Cells Editing Paste BIU- Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font 3 f V S&P Enterprises needs a cash budget for March. The following information is G F > H 18 B C D E 14 15 Accounts payable for inventory purchases, March 1 balance $10,500 16 Budgcted inventory purchases in March $23.500 17 Inventory payments Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12.500 22 Budgeted selling & administrative depreciation in March $3,200 23 24 Other budgeted cash disbursements in March 25 Equipment purchases $14.000 26 Dividends to be paid $2,000 27 28 Minimum cash balance to be maintained $10.000 29 March 1 cash balance S11.500 30 March 1 outstanding borrowings $0 31 March 1 Interest due SO 32 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: 1. Schedule of expected cash collections for March 39 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 41 any interest will not be paid until the following month 42 38 40 43 14 45 Budget Data Schedules and Cash Budget 333 10 DEADY Calibri 11 M Paste BTU - Cells Editing AA 96 Alignment Number Conditional Format as Cell Formatting - Table Styles Styles fx Expected cash collections: Clipboard Font Al > C D E E F G G 4 4 B 1 Expected cash collections: 2 March cash collections 3 March collections on account: 4 January sales 5 February sales 6 March sales 7 Total cash collections 8 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 14 S&P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends pald 27 Total disbursements 28 Preliminary cash balance 29 Financing: 30 Additional loan 31 Loan repayments 32 Interest Budget Data Schedules and Cash Budget READY LA Total financing Cash balance, March 31 4 Budget Data Schedules and Cash Budget - FADY