Current assets as of September $1$ include cash of $$43,000,$ marketable securities of $$61,000,$ and accounts receivable of $$126,000($$$27,000$ from July sales and $$99,000$ from August sales$).$ Sales on account for July and August were $$90,000$ and $$99,000,$ respectively. Current liabilities as of September $1$ include $$9,000$ of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $$16,000$ will be made in October. Bridgeport$$s regular quarterly dividend of $$9,000$ is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of $$42,000.$ Required: Question Content Area $1.$ Prepare a monthly cash budget and supporting schedules for September, October, and November. Assume $360$ days per year for interest calculations. Bridgeport Housewares Inc. Cash Budget For the Three Months Ending November $30$ Line Item Description September October November Estimated cash receipts from: Cash sales $Cash sales $Cash sales $Cash sales Collection of accounts receivable Collection of accounts receivable Collection of accounts receivable Collection of accounts receivable Total cash receipts $Total cash receipts $Total cash receipts $Total cash receipts Less estimated cash payments for: Manufacturing costs $Manufacturing costs $Manufacturing costs $Manufacturing costs Selling and administrative expenses Selling and administrative expenses Selling and administrative expenses Selling and administrative expenses Capital expenditures Capital expenditures Other purposes: Income tax Income tax Dividends Dividends Total cash payments $Total cash payments $Total cash payments $Total cash payments Cash increase or $($decrease$)$ $Cash increase or $($decrease$)$ $Cash increase or $($decrease$)$ Cash increase or $($decrease$)$ Plus cash balance at beginning of month Plus cash balance at beginning of month Plus cash balance at beginning of month Plus cash balance at beginning of month Cash balance at end of month $Cash balance at end of month $Cash balance at end of month $Cash balance at end of month Less minimum cash balance Less minimum cash balance Less minimum cash balance Less minimum cash balance Excess or $($deficiency$)$ $Excess or $($deficiency$)$ $Excess or $($deficiency$)$ $Excess or $($deficiency$)$