Havier Company developed the following data for the month of August.

Cash balance, August 1st

$ 12,300

Cash sales in August

60,000

Credit sales for the month of:

June

40,000

July

30,000

August

50,000

Purchases for the month of:

July

45,000

August

40,000

Other expenses in August:

Salaries

32,500

Utilities

3,300

Depreciation

10,000

70% of credit sales are collected in the month of sale, 15% in the following month, and 10% in the second month following the sale.

25% of purchases are paid in the month of purchase and the remaining 75% in the following month.

100% of other expenses are paid in the month recorded.

Required:

Prepare a cash collections and cash payment schedule as well as a cash budget for the month.

Total cash sales and collections on account for the month are $____________.

Total cash available for the month is $_______________.

Payments for purchases during the month are $______________.

Payments for other expenses during the month are $___________ .

The ending cash balance for the month is $__________________.