B D 1 S&P Enterprises needs a cash budget for March. The following information is available. 2 3 Data 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account Total Sales January February March $1,600 25,000 $26,600 $3,750 30,000 $33,750 $5,100 40,000 $45,100 1596 60% 2296 3% $10,500 $23,500 60% 4096 9 Accounts Receivable Collections: 10 Month of sale 11 Month following 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 19 20 Total budgeted selling & administrative expenses in March (including depreciation) 21 Budgeted depreciation in March (included in total selling and admin exp) 22 23 Other budgeted cash disbursements in March Equipment purchases 25 Dividends to be paid 26 27 Minimum cash balance to be maintained 20 March 1 cash balance 29 March 1 outstanding borrowings 30 March 1 interest due 31 12. The company has a line of credit available to bolster the cash balance as needed $12,500 $3,200 $14,000 $2,000 $10,000 $11,500 SO SO 14 When preparing budgets, the company maintain their data on a separate sheet from the actual budget and schedules Budget Data Schedules and Cash Budget Required: click the Schedules and Cash Budget tab to prepare the following: 1 Schedule of expected cash collections for March 2. Schedule of expected cash disbursements for inventory parchases 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 (Use cells A4 to 831 from the given information to complete this question.)