At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) Purchase season football tickets in September Additional entertainment for each month Pay fall semester tuition in September $8,050 110 280 4,300 390 220 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,000 Pay rent at the beginning of each month Pay for food each month a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Estimated cash receipts from: Part-time job Deposit Total cash receipts Craig Kovar Cash Budget For the Four Months Ending December 31 September October November December 0001 b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?