Budget information: Projected sales for January, 2021 Average Monthly percantage of sales increase: Average monthly salary expense: Average monthly rent expense: Average monthly utility expense: Average monthly misc. expense: Supplies expense as a percentage of sales: Commission expense as a percentage of sales: Cash sales in month of sale Cost of goods sold-percentage of sales Desired ending inventory-percent of next months COGS Payments of inventory in month of purchase Monthly depreciation for 2020 New equipment cost Salvage value Useful Life (months) Minimum required cash balance Monthly interest rate 126,800 4% 34,200 5,600 6,520 2,700 3% 5% 54% 34% 25% 75% 2,300.00 250,000.00 10,000 120 $ $ 43,000 0.4% CHOCOLATES Sales Budget For the Three Months Ending March 31, 2021 February March Cash Sales Credit Sales Total Sales January 68,472 58,328 126,800 $ CHOCOLATES Schedule of Cash Receipts For the Two Months Ending February 28, 2021 January February Cash Sales Collection of Credit Sales (A/R) Total Budgeted Cash Receipts CHOCOLATES Inventory Purchases Budget For the Two Months Ending February 28, 2021 January February Cost of Goods Sold Add: Inventory Needed Less: Budgeted Purchases Budget information: Projected sales for January, 2021 Average Monthly percantage of sales increase: Average monthly salary expense: Average monthly rent expense: Average monthly utility expense: Average monthly misc. expense: Supplies expense as a percentage of sales: Commission expense as a percentage of sales: Cash sales in month of sale Cost of goods sold-percentage of sales Desired ending inventory-percent of next months COGS Payments of inventory in month of purchase Monthly depreciation for 2020 New equipment cost Salvage value Useful Life (months) Minimum required cash balance Monthly interest rate 126,800 4% 34,200 5,600 6,520 2,700 3% 5% 54% 34% 25% 75% 2,300.00 250,000.00 10,000 120 $ $ 43,000 0.4% CHOCOLATES Sales Budget For the Three Months Ending March 31, 2021 February March Cash Sales Credit Sales Total Sales January 68,472 58,328 126,800 $ CHOCOLATES Schedule of Cash Receipts For the Two Months Ending February 28, 2021 January February Cash Sales Collection of Credit Sales (A/R) Total Budgeted Cash Receipts CHOCOLATES Inventory Purchases Budget For the Two Months Ending February 28, 2021 January February Cost of Goods Sold Add: Inventory Needed Less: Budgeted Purchases