B D S&P Enterprises needs a cash budget for March. The following information is available, 2 3 Data January February March 4 Actual January and February and expected March sales: 5 Cash sales $1,600 $3,750 $5,100 6 Sales on account 25,000 30,000 40,000 $26.600 $33,750 $45,100 7 Total Sales B 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 Accounts payable for inventory purchases, March 1 balance $10,500 15 Budgeted inventory purchases in March $23,500 16 Inventory payments: 17 Month of purchase 60% 10 Month following purchase 40% 19 20 Total budgeted selling & administrative expenses in March (including depreciation) $12,500 $3,200 21 Budgeted depreciation in March (included in total selling and admin expl 22 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 balance 29 March 1 outstanding borrowings 30 March 1 interest due Budget Data A Schedules and Cash Budget + $14,000 $2.000 $10,000 $11,500 50 50 AL Xxx S&P Enterprises needs a cash budget for March, The following information is available. C B F G 29 March 1 outstanding borrowings 50 30 March 1 interest due 50 31 22 The company has a line of credit available to bolster the cash balance as needed. 33 54 When prepanne budgets, the company maintains their data on a separate sheet from the actual budget and schedules 35 36 Required: 17 Click the Schedules and Cash Budget tab to prepare the following: 30 1. Schedule of expected cash collections for March. 39 2. Schedule of expected cash disbursements for inventory purchases for March 40 41 42 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 07 and A10 to 830 from the given information, as well as A3 to C34 from the Schedules and Cash Budget to 43 complete this question.) 44 45 46 47 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignment. 49 50 31 32 33 34 Budget Data Schedules and Cash Budget + 1 2 Expected cash collections: 3 March cash collections fx Accessibility tab summary: Financial information for S and P enterprises, is presented in cells A3 to D7 and rows 9 to 30. A E F H A C D G 4 March collections on account: 5 January sales 6 February sales 7 March sales 8 Total cash collections 9 10 Payments 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 24 25 26 Payments to suppliers Selling and administrative expenses Equipment purchases Dividends paid 27 Total disbursements 28 Preliminary cash balance 29 Financing: 30 Additional loan S&P Enterprises Cash Budget For the Month of March =Budget Data Schedules and Cash Budget + A1 X fx Accessibility tab summary: Financial information for S and P enterprises, is presen 23 24 25 26 Payments to suppliers Selling and administrative expenses Equipment purchases Dividends paid 27 Total disbursements 28 Preliminary cash balance 29 Financing: 30 Additional loan 31 32 Loan repayments Interest 33 Total financing 34 Cash balance, March 31 35 B C D 36 37 38 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used 39 Nothing in this area will be graded, but it will be submitted with your assignment. 40 41 42 43 455 44 45 46 47 48 49 50 51 52 4 = 8 Budget Data Schedules and Cash Budget + C