Create a schedule of cash disbursement to suppliers of products for sale.

f. Equipment is to be purchased on January 1, 2023 for cash in the amount of $700,000. g. The directors have indicated an intention to declare and pay dividends of $120,000 on the last day of each quarter. h. The executives believe that the company should maintain a minimum cash balance of $100,000. If the cash balance in any month is less than $100,000, then the company can borrow to cover the shortfall Amounts borrowed must be in multiples of $1,000 (for example, $50,000 or $51,000 but not $51,500 or 51,566). The interest rate is 10% per annum. Repayment of principal and interest must be made on the last day of each quarter, i. Tax payable represents 20% of Profit before Tax and will be paid April 30, 2023 (after the end of the first quarter) Required: Prepare the following budgets for Jabez Enterprise by month and the quarter in total for the period ending March 31, 2023 d Cost of goods sold - this is normally 70% of total sales. To have adequate stocks of inventory on hand, the company attempts to have inventory at the end of each month equal to half (50%) of the next month's projected cost of goods sold. Inventory is purchased on account and usually settled as follows: i. 40% during the month of purchase ii. 60% during the month after purchase S e. Other monthly expenses Expense type Salaries Advertising and promotion Depreciation Sales commission 100,000 25,000 60,000 2% of total sales 3 Jabez Trading Appliance Company Ltd Jabez Appliance Trading Company Ltd is a retail company that sells Appliances. The budget for the forthcoming period Januaryl to March 31, 2023 is to be prepared. Expectations for the forthcoming period include the following: s a. Expected Statement of Financial Position as at 31 December 2022 $ ASSETS Non-current Assets Property Plant and Equipment (NBV) 1,344,50 0 0 Current Assets Inventory 346,500 126,000 Accounts Receivable Marketable securities 30,000 Cash 353.000 855.500 2.200,00 Q EQUITIES AND LIABILIATIES Capital Share capital 1,000,00 0 0 Accumulated profits 216.200 1,216,20 0 2 Current Liabilities 396,900 Accounts Payable 10% Bond Payable 586,900 983.800 2.200,00 0 b. Sales data-the company's sales for December 2022 are expected to be $1,000,000 and it is expected that it will increase by 10% each month over the previous month for the quarter ending March 31, 2023. Sales are expected to remain constant at March 31, 2023 level for the next three months. . . Collections - credit sales are typically 70% of total sales, Outstanding amounts from sales are normally collected as follows: i. 80% during the month of sale 11 20% during the month after sale