cash EX 7-1 Personal budget At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the 150 months of September, October, November, and December. The budget must plan for enough Obj. 2,5 PLATE Chapter 7 Budgeting 347 cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job). Purchase season football tickets in September.. Additional entertainment for each month Pay fall semester tuition in September Pay rent at the beginning of each month. Pay for food each month Pay apartment deposit on September 2 (to be returned December 15) .... Part-time job earnings each month (net of taxes).. $6,000 150 250 3,500 450 400 450 1,300 A. Prepare a cash budget for September, October, November, and December. B. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? C. What are the budget implications for Priscilla Wescott