AT fr. SRP Enterprises needs a cash budget for March. The following information is avalable. 1. S8P Enterprises needs a cash budiget for March. The following information is avalable. B o Data 3 4 Actual January and February and expected March sales 5 Cash sales 6 Sales on account. 7 Totalsales 9 Accounts Receivable Collections: 10. Month of sale 11 Month foliowing sale 12 Second month following sale 13 Uncollectible. 14 Accounts payable for inventory purchases, March 1 balance 15 Budgeted inventory purchases in March 16 Inventory payments 17 Month of purchase 18. Month following purchase \begin{tabular}{|r|r|r|} \hline Jonwary & Febrwary & \multicolumn{1}{|c|}{ March } \\ \hline$1,600 & $3,750 & $5,100 \\ \hline 25,000 & 30,000 & 40,000 \\ \hline$26,600 & $33,750 & $45,100 \\ \hline \end{tabular} 19 20 Total budgeted selling \& administrative expenses in March fincluding depreciation) $12,500 21 Budseted depreciabion in March (included ig total selling and admin exp) $3,200 23 Other budgeted cash disbursements in March 24 Equipment purchases 25 Dividends to be paid 26 27 Minimum cash balance to be maintained 28. March 1 cash balunce 29 March 1 outstanding borrowings 30 March 1 interest due $14,000 $2,000 31. $10,000 $11,500 32 The company has a line of credit aralable to bolater the cash balance as needed. 33 36 Required: 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 39 2. Schedule of expected cash disbursements for inwentory purchases for March. 40 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 41 month. 42. 43 (Use cells A4 to D7 and A10 to B30 from the given information, as well as A3 to C34 from the Schedules and Cash Budget to complete this question.) 44 45 2 Expected cosh collections: 3 March cash collections 4 March collections on account: 5 January sales. 6 February sales 7 March sales 8 Total cash collections 10 Poyments to suppliers: 11 Accounts payable for inventory purchases, beginning balance 12 March purchases 13 Total cash payments 14 15 16 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 paid 27 Total disbursements 28 Preliminary cash balance 29 Financing: 30 Additional loan 31. Loan repayments 32 Interest 33 Total financing 34 Cash balance, March 31
