An Enterprises has the following business transaction estimates relating to the final quarter of 2020.

$ $ $

October November December

Credit Sales 105600 112000 138000

Cash Sales 21200 26420 31200

Notes

1. Actual Receipts from Accounts Receivable are 70% of the previous months

Credit Sales and the balance of 30% owing is received in the following month.

Credit Sales for September 2020 were $80,000 as they were in August 2020.

Cash Sales were $16,500 in August 2020 and $18,000 in September of 2020.

2. Payment of Accounts Payable is paid 60% of purchases in the month of

Purchase and the remaining 40% in the month following. Purchases in

September 2020 were $36,000.

3. The cash balance at 1 October 2020 was $52,890

Required:

Prepare a cash budget month by month for the quarter ending 31 December 2020. (15 marks)

Note that marks will be deducted for each incorrect posting to the cash budget.

Credit Sales 105600 112000 138000

Cash Sales 21200 26420 31200

Receipts from Accounts Receivable `1. calculate calculate calculate

Wages 28200 28200 28200

Office Furniture 6000 7800 0

Prepayments 0 0 5275

Administrative Expense 10000 10000 11900

Depreciation on Office Furniture 2500 2500 2500

Receipt of Loan 0 100000 0

Credit Purchases 42000 42000 58000

Payments of Accounts Payable 2. calculate calculate calculate

Accrued Expenses 0 0 6700

can you do ASAP THANKS