ANSWERS MUST BE FORMULAS NOT NUMBERS

D E A S&P Enterprises needs a cash budget for March. The following information is available. January February March 3 Data 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales $ 1,600 $ 25,000 $ 26,600 $ 3,750 30,000 33.750 $ 5,100 40,000 $ 45.100 | 10 Accounts Receivable Collections: Month of sale Month following sale Second month following sale Uncollectible 15% 60% 22% 3% 15 Accounts payable for inventory purchases, March 1 balance $10,500 $23,500 17 Inventory payments: Month of purchase Month following purchase 60% 40% 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 $3,200 C D E A 22 Budgeted selling & administrative depreciation in March B $3,200 Equipment purchases Dividends to be paid $14,000 $2,000 $10,000 $11,500 28 Minimum cash balance to be maintained 29 March 1 cash balance 30 March 1 outstanding borrowings 31 March 1 interest due $0 33 The company has a line of credit available to bolster the cash balance as needed. 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 37 Click the Schedules and Cash Budget tab to prepare the following: 38 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. ... Budget Data Schedules and Cash Budget ... + AT 1 Expected cash collections: 2 March cash collections 3 March collections on account: 4 January sales 5 February sales March sales 7 Total cash collections 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 S&P Enterprises Cash Budget For the Month of March 18 Cash balance, March 1 19 Add cash receipts: 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Cash balance before financing 29 Financing: Borrowings/Repayments 31 Cash balance, March 31 ... Budget Data Schedules and Cash Budget ... L