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 September October November Sales $109,000 $138,000 $185,000 Manufacturing costs 46,000 59.000 67,000 Selling and ministre 38,000 41,000 expenses 70,000 Capital expenditures The company expects to sebout 10% of its merchandise for cash of sales on account, 70 are expected to the collected in the month following the sale and the remainder the folowing month (second month following sele). Depreciation, insurance, and property tax expense represent $3,000 of the estimated monthly manufacturing costs. The insurance premium paid in auary, and the annual reperty taves are paid in December of the remainder of the manufacturing costs, to expected to be paid in the month which they are curred and the balance in the following month Current Sumber 1 indude cath of $1,000,marketablece of $59,000, and accounts receivable of $121,100 (636,100 from Xuy sales and $95.000 from August Seson for Buy and got were $17.000 and $95.000, respectively. Current times as of September include $8,000 of accounts payable curred in August for manufacturing cell ling and drive expenses are paid in cash in the period they are morred. An estimated income tax payment of $17,000 will be made in October, Erdgeport requar urterlysvidend of 2.000 is expected to be declared in October and paid in Novembet Management desire to maintain a minimum chance of $40,000 Required 1. Pre mnath budget and porting schedules for Setember October, and November. Assume days or year for interesteculation Bridgeport Horsewaresine Cash Budget For the Three Month Ending November 30 September October November Estimated receipts from Total cash Letite cash payment for Previous Ded: My Work 2 Works