(Cash buyen The Shape Corporations projected sales for the first months of 2016 are shown in the flowing tablet Or Sharpe's, 20 persis for cash and is collected in the month flowing the sales and 40 percentis lected in the second month flowing in November and December sales for 2015 were $270,000 and $225.000, respectively Share purchase is a materials 2 months in advance of the purchases are equal to 50 percent of the fnat sales price of Sharpe's products. The suppliers and 1 month after it makes a delivery For example purchases for Apreses are made in February, and payment is made in March In addon Shways 58.000 per month fox and 510,000 each month for other expenditures Tax prepayment of $20,000 made each bong Marth The company cash balance on December 2015 o 125,000 This is the minimum balance the firm wants to Any bonowing the needed to remisit in the months with Interest on short form ana 12 percent) pomowy borrowing to meet yhdespace at the begening of the months in the month of Art firm expedia bowed for an additional 500.000, these lunde wowowed at beginning of Apel with norest of 1005(0.121/1200,300) odprl and paid the beginnego Prepare a oath budget for Sharpe covering the first 7 months of 2010 b. Sharpenas $200,000 in nos payable duo in July and be repaid or negotiated for an adesion. With have amesh to pay there? January February March April $240,000 170,000 185,000 290,000 May June July August $350,000 320,000 275,000 200,000 a. Prepare a cash budget for Sharpe covering the first 7 months of 2016. Fill in the Collections for the month of January: (Round to the nearest dollar) Nov Dec Jan Feb Mar Apr May June July Sales $270,000 $225,000 $240,000 $170,000 $185,000 $290,000 $350,000 $320,000 $275,000 Collections: Month of sale (20%) First month (40%) Second month (40%) Total Collections UA Nov Dec Jan Feb Mar Apr May June July n re 1. Cash Disbursements: hor $6 Purchases Rent at Other Expenses e in Tax Deposits Interest on short term loan Total Disbursements 106,000 8,500 19,000 0 ON 133,500 Nov Dec Feb Mar Apr May June Jan SOK.NO July A Total Collections Total Disbursements Net Monthly Change Beginning Cash Balance Ending Cash Balance (Cash buyen The Shape Corporations projected sales for the first months of 2016 are shown in the flowing tablet Or Sharpe's, 20 persis for cash and is collected in the month flowing the sales and 40 percentis lected in the second month flowing in November and December sales for 2015 were $270,000 and $225.000, respectively Share purchase is a materials 2 months in advance of the purchases are equal to 50 percent of the fnat sales price of Sharpe's products. The suppliers and 1 month after it makes a delivery For example purchases for Apreses are made in February, and payment is made in March In addon Shways 58.000 per month fox and 510,000 each month for other expenditures Tax prepayment of $20,000 made each bong Marth The company cash balance on December 2015 o 125,000 This is the minimum balance the firm wants to Any bonowing the needed to remisit in the months with Interest on short form ana 12 percent) pomowy borrowing to meet yhdespace at the begening of the months in the month of Art firm expedia bowed for an additional 500.000, these lunde wowowed at beginning of Apel with norest of 1005(0.121/1200,300) odprl and paid the beginnego Prepare a oath budget for Sharpe covering the first 7 months of 2010 b. Sharpenas $200,000 in nos payable duo in July and be repaid or negotiated for an adesion. With have amesh to pay there? January February March April $240,000 170,000 185,000 290,000 May June July August $350,000 320,000 275,000 200,000 a. Prepare a cash budget for Sharpe covering the first 7 months of 2016. Fill in the Collections for the month of January: (Round to the nearest dollar) Nov Dec Jan Feb Mar Apr May June July Sales $270,000 $225,000 $240,000 $170,000 $185,000 $290,000 $350,000 $320,000 $275,000 Collections: Month of sale (20%) First month (40%) Second month (40%) Total Collections UA Nov Dec Jan Feb Mar Apr May June July n re 1. Cash Disbursements: hor $6 Purchases Rent at Other Expenses e in Tax Deposits Interest on short term loan Total Disbursements 106,000 8,500 19,000 0 ON 133,500 Nov Dec Feb Mar Apr May June Jan SOK.NO July A Total Collections Total Disbursements Net Monthly Change Beginning Cash Balance Ending Cash Balance