Former Corporation sells office supplies to government agencies. At the beginning of the current quarter, the company reports the following selected account balances.

Cash $ $10,000$

Accounts receivable $210,000$

Current payables $88,000$

Former$$s management has made the following budget estimates regarding operations for the current quarter.

Sales $($estimated$)$ $ $500,000$

Total costs and expenses $($estimated$)400,000$

Debt service payment $($estimated$)145,000$

Tax liability payment $($estimated$)45,000$

Of Former$$s total costs and expenses, $$20,000$ is quarterly depreciation expense, and $$20,000$ represents the expiration of prepayments. The remaining $$360,000$ is to be financed with current payables. The company$$s ending prepayments balance is expected to be the same as its beginning prepayments balance. Its ending current payables balance is expected to be $$22,000$ more than its beginning balance.

All of Former$$s sales are on account. Approximately $65$ percent of its sales are collected in the quarter in which they are made. The remaining $35$ percent are collected in the following quarter. Because all of the company$$s sales are made to government agencies, it experiences virtually no uncollectible accounts.

Former$$s minimum cash balance requirement is $$10,000.$ Should the balance fall below this amount, management negotiates a short$-$term loan with a local bank. The company$$s debt ratio $($liabilities $-$: assets$)$ is currently $80$ percent.

Required:

a$.$ Compute Former$$s budgeted cash receipts for the quarter.

b$.$ Compute Former$$s payments of current payables budgeted for the quarter.

c$.$ Compute Former$$s cash prepayments budgeted for the quarter.

d$.$ Prepare Former$$s cash budget for the quarter.