Asian Cuisines has been operating the business for more than years. Beetly there will supermarkets approached the business for few bons some local alleresohe marted trading with the business. The business directly only to end The following estimates have been made with respect to the third quarter option2023 Budgerie information for Ird quarter 2021 My $28.00.0 $ A Sept 33.60 $ 25,2280 Cash $ Credit Sales Total $ 12,016.30 $ 40,04640 5401S0140 18.660.00 $ 36,06320 $ S 1.1 $ 5 2.15.00 $2.022.00 5 2.239.50 $ 10,957.14 5 110 $ 5 674 5 MED $ 300.00 Cost of Paping and Groceries med Packag purchases Grocery purchases Petrol Adverton wa Depreciation Vasale Depreciation Bowling machine Depreciation expense website Deprecation Rent Electricity and Gas Water 30.00 L. 31.555.72 1111 50.00 333 166 67 11000 1617 151 0000 11 1111 50.00 33.33 1666 11.00 150 1735 333 1866 100 141 Attual Sales Cash Actual Packaging Credit $19.01.2016 $1.535.00 March March $21,772.80 59.231.20 51,765.00 $27.226.00 $1664.00 2.175.00 May My $12.659.70 $13.99630 une June $12.00 SON Additional information All the procery purchases are made on credit and paid for in the more the purchase. Grocery purchases in die were Percentage of ourchases Packaprel on credit c. Gas and Water arealet the end of the Rent investeering of the Al other expenses are paid the time they were Bank balance at the beginning of the budget pered Pattern of receipts from A/C Receivable Sammonths Morfollowing month of tale Second month following month of sale Third month following the temperamente 10 ON Same month of purchase Morth following month of purchase SON Required 512,765.60 80% Additional information: All the grocery purchases are made on credit and paid for in the month following the purchase. Grocery purchases in June were Percentage of purchases (Packaging) on credit Utilities; Electricity, Gas and Water are all paid at the end of the quarter Rent is paid in advance at the beginning of the quarter All other expenses are paid at the time they are incurred Bank balance at the beginning of the budget period is Pattern of receipts from A/C Receivable Same month as sale $53.222.32 15% Month following month of sale Second month following month of sale Third month following month of sale Pattern of payments from A/C Payable: Packaging Supplies SSX 30% 0% Same month of purchase Month following month of purchase 5056 SOX Required: Prepare for ) Asian Cuisine for three months ending 30 September 2021 1. Schedule of receipts from accounts receivable 2. Schedule of payments from Accounts Payable (packaging 3. Cash budget 4. Comment on the business cash position Budgeted information for 3rd quarter 2021 ($) July $ 28,029.60 $ August Sept 33,638.40 $ 25,228.80 Cash Sales $ 12,016.80 $ Credit Sales Total 14,421.60 $ 10,814.40 48,060.00 $ 36,043.20 $ 40,046.40 $ $ 13,181.94 $ $ 2,239.80 $ $ 10,957.14 $ $ 667.44 $ Cost of Packaging and Groceries used Packaging purchases Grocery purchases Petrol Advertising Wages Depreciation expense - Vacuum sealer Depreciation expense -Bowl sealing machine Depreciation expense - website Depreciation - car Rent expense Electricity and Gas Water 300.00 11,555.72 11.11 50.00 33.33 166.67 1,320.00 1,617.36 151.24 15,819.75 $ 10,863.02 2,685.00 $ 2,022.40 13,149.75 $ 9,861.82 801.00 $ 600.72 300.00 300.00 11,583.54 11,541.82 11.11 11.11 50.00 50.00 33.33 33.33 166.67 166.67 1,320.00 1,320.00 1,929.00 1,461.68 173.50 140.12 Actual Sales Cash Actual Purchases (Packaging) Credit $19,051.20 $8,164.80 $1,525.00 March March $21,772.80 $9,331.20 $1,765.00 April April $27,216.00 $11,664.00 $2,175.00 May May $32,659.20 $13,996.80 June June $2,638.00 Additional information: $12,765.60 80% All the grocery purchases are made on credit and paid for in the month following the purchase. Grocery purchases in June were Percentage of purchases (Packaging) on credit Utilities; Electricity, Gas and Water are all paid at the end of the quarter Rent is paid in advance at the beginning of the quarter All other expenses are paid at the time they are incurred $53,222.32 Bank balance at the beginning of the budget period is Pattern of receipts from A/C Receivable Same month as sale 15% Month following month of sale Second month following month of sale Third month following month of sale Pattern of payments from A/C Payable; Packaging Suppliers 55% 30% 0% 50% Same month of purchase Month following month of purchase 50% Required: Prepare for JJ Asian Cuisine for three months ending 30 September 2021 1. Schedule of receipts from accounts receivable 2. Schedule of payments from Accounts Payable (packaging) 3. Cash budget 4. Comment on the business cash position