answer requirement $3$ and $4$ only

December 31, 2015, account balances Cash Accounts Receivable Merchandise Inventory Accounts Payable Salaries and Commissions Payable Budgeted amounts for 2016: Sales Purchases Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense Requirements S January 81,000 s 41200 4,050 5,000 2,600 200 1,900 30,000 12,000 17,000 14,000 2. 2,650 February 3. 83,700 41 , 900 4, 185 5,000 2,600 4. 1,900 Prepare the schedule of cash receipts from customers for January and February 2016 Assume cash receipts are 70% in the month of the sale and 30% in the month following the sale Prepare the schedule of cash payments for purchases for January and February 2016. Assume purchases are paid 30% in the month of purchase and 70% in the month following the purchase Prepare the schedule of cash payments for selling and administrative expenses for January and February 2016. Assume 25% of the accrual for Salaries and Commissions Payable is for commissions and 75% is for salaries. The December 31 balance Will be paid in January. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount Prepare the cash budget for January and February 2016. Assume no financing took place. Requirement 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2016. Assume 25% of the accrual for Salaries and Commissions Payable is for commissions and 75% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount (Round your answers to the nearest whole number.) Watercooler Company Budgeted Cash Payments for Selling and Administrative Expenses For the Months Ended January 31 and February 29 Variable expenses: 30% of last month's Commission Expense 70% of current month's Commission Expense Total payments for variable expenses Fixed expenses 30% of last month's Salaries Expense 70% of current month's Salaries Expense Rent expense Total payments for fixed expenses Total payments for S and A expenses January 2,835 3,500 2,600 February 1215 1 7500 3,500 2,600 77600