Cooke Company has provided the following budget information for the first quarter of 2024 : (Click the icon to view the budget information.) Additional data related to the fist quartor of 2024 for C (1) (Click the icon to view the data.) Read the roquiroments. Requirement 1. Prepare Cooke Company's scheduie of cash receipts from customers and schedule of cash payments for the frrst quarter of 2024. Begin by preparing the schedule of cesh receipts from customers for the first quarter of 2024. Caeh Racainte from Cantimmars. Requirements Data table 1. Prepare Cooke Company's schedule of eash roceipss from customers and schedule of cash payments for the firit quarter of 202 . 2. Prepare Cooke Corrpany's cash budget tor the first quartor of 2024 . a. Capital expenditures include $42,000 for new manufacturing equipment to be purchased and paid in the first quarter. b. Cash receipts are 85% of sales in the quarter of the sale and 15% in the quarter following the sale. c. Direct materials purchases are paid 70% in the quarter purchased and 30% 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 $44,000 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 $32,000, in Accounts Receivable is $20,300, and in Accounts Payable is $9,000