Cocke Compary has provided the following budget informason for the finst quarter of 2024 : Additional data related to the frat quarter of 2024 for Cooke Company: BHt (Click the ioon to view tive budget infomiation.) (Click the icen fo view the data.) Read the reguitements: Requirement 1. Prepare Cooive Company's schedule of cash receipts from customen and schedule of cash payments for the first quarter of 2024. Begin by peeparing the schedie of cash recepts from customers for the frat cuarter of 2024. Data table a. Capital expenditures include $36,000 for new manufacturing equipment to be purchased and paid in the first quarter. b. Cash receipts are 80% of sales in the quarter of the sale and 20% in the quarter following the sale. c. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter. d. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred. e. Income tax expense for the first quarter is projected at $46,000 and is paid in the quarter incurred. f. Cooke Company expects to have adequate cash funds and does not anticipate borrowing in the first quarter. g. The December 31, 2023, balance in Cash is $45,000, in Accounts Receivable is $16,700, and in Accounts Payable is $10,500. Requirements 1. Prepare Cooke Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. 2. Prepare Cooke Company's cash budget for the first quarter of 2024