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can you do Feb and March too please Scotl's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year.

image text in transcribed can you do Feb and March too please

Scotl's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements: (Click the icon to view the information.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month and totals for January and February combined. 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 287 X Requirement 1a. Prepare a schedule budgeted cash collections for January and February. Show totals for each month and totale for anuan and Februari.comhirad Scott's Restaurant Supply More info Cash Collections Budget For the Months Ended January 31 and February 28 January a. Sales are 75% cash and 25% credit. Credit sales are collected 20% in the month of sale and the remainder in the month after sale. Actual sales in December were $54,000. Schedules of budgeted Cash sales sales for the two months of the upcoming year are as follows: Collection on credit sales Budgeted Sales Revenue Total cash collections January ...... $ 58,000 February ............... $ 67,000 b. Actual purchases of direct materials in December were $22,500. The company's purchases of direct materials in January are budgeted to be $22,000 and $25,000 in February. All purchases are paid 50% in the month of purchase and 50% the following month. c. Salaries and sales commissions are also paid half in the month eamed and half the next month. Actual salaries were $8,000 in December. Budgeted salaries in January are $9,000 and February budgeted salaries are $10,500. Sales commissions each month are 12% of that month's sales. d. Rent expense is $2,700 per month c. Depreciation is $2,600 per month Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be S12,500 g. The cash balance at the end of the prior year was $24,000. f

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