coole company has provided the following budget information for the first quarter of 2024

Cooke Company hat peovidos the followng budget intormation for the fics quarter of 2024 : Titi (cick the icon to vies the budgut ititarmation) Requinement 1. Phepiare Cooke Compariys sctedule of cash recopts from cuichers and sctiedub of cach payments for the fist quarler of 2024 Begn by propiwing she schoode of cash recoipts tom dustomers lor the first quarler of 2024 Cash Roceipti from Cuntemers Acecunta Receientie balanos, March 31,2024 tucit-soleri tosedod an zerd Cr Prcosie the sctwesule of canti pivmonts tor the frst quater of 2804 Cash Pmymous Cookn Compam has provided the folowing budget information for the flrst guadter of 2024 : WH (Cick the icon to view the bodget information.) Requirement 2. Prepare Cooke Company's cash budget for the first quarter of 2024. Review the schedule of cash receipts from customers you prepared in Requirement 1. Review the schedule of cash payments you prepared in Requirement 1 . 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 60% of sales in the quarter of the sale and 40% in the quarter following the sale. c. Direct materials purchases are paid 60% in the quarter purchased and 40% 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 $50.000 and is paid in the quarter incurred 1. Cooke Company expects to have adequate cash funds and does not anticipate borrowing in the first quarter. 9. The December 31, 2023, balance in Cash is $40,000, in Accounts Receivable is $23,200, and in Accounts Payable is $10,500