DataLink Corp has the following budget information for the second quarter of the year:

• Sales: £250,000
• Cash Sales: 35% of total sales
• Collections on Credit Sales: 60% in the month of sale, 35% in the following month
• Purchases: £150,000 (70% paid in the month of purchase, 30% in the following month)
• Operating Expenses: £50,000 (paid in the month incurred)
• Beginning Cash Balance: £20,000

Requirements:

1. Prepare a cash receipts schedule for the second quarter.
2. Prepare a cash payments schedule for the second quarter.
3. Prepare a cash budget for the second quarter, including the ending cash balance.