Can you help with the cash budget? Please, see instructions below.

Notes:

Please, work in excel spreadsheet and show calculations for better understanding.

l. A. B. our: PH: on K. PR T4A Cash budget. The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: -__ m Sel .-_ andAdm- Cost 42,000 43,000 51,000 III-IIII-Illll-IIIIEMME The company expects to sell about 113% of its merchandise for cash. Of sales on account, J'lfii are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and properlyr tax expense represent SSGHGG of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. - Of the remainder of the manufacturing costs, 30% are expected to be paid in the month in which they are incurred and the balance in the following month. Current assets as of September 1 include cash of $40,330, marketable securities of STEGGG, and accounts receivable of $3 {$, om July sales and $24IJJJIJIJ om August sales}. Sales on account for July and August were $23!],D and $24,, respectively. - Current liabilities as of September 1 include $4, of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $55,13'D will be made in October. Bridgepoit's regular quarterly dividend of $25,!)DD is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of $T5,DDD. Instructions: 1. Prepare a monthly cash budget and supporting schedules for September, October, and November. 2. Based on the cash budget prepared in part (1), what recommendation should be made to the controller