Heidi Pedersen, the treasurer for Wood Products, Inc., has just been asked by Justin Wood, the companys president, to prepare a memo detailing the companys ending cash balance for the next three months. Below, you will see the relevant estimates for this period.

Credit sales	$1,275,800	$1,483,500	$1,096,300
Credit purchases	765,480	890,160	657,780
Cash disbursements
Wages, taxes, and expenses	348,600	395,620	337,150
Interest	29,900	29,900	29,900
Equipment	0	158,900	96,300
Credit sales collections
Collected in month of sale	35%
Collected month after sale	60%
Never collected	5%
June credit sales	$1,135,020
June credit purchases	$681,012
Beginning cash balance	$425,000

All credit purchases are paid in the month after the purchase.

• a.Complete the cash budget for Wood Products for the next three months.
• b.Heidi knows that the cash budget will become a standard report completed before each quarter. To help reduce the time preparing the report each quarter, she would like a memo with the appropriate information in Excel linked to the memo. Prepare a memo to Justin that will automatically update when the values are changed in Excel