Helen Bowers, owner of Helen's Fashion Designs, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for the firm for parts of $2021$ and $2022$:

May $2021$ $ $150,000$

June $150,000$

July $300,000$

August $450,000$

September $600,000$

October $300,000$

November $300,000$

December $75,000$

January $2022150,000$

Estimates regarding payments obtained from the credit department are as follows: collected within the month of sale, $10\%$; collected the month following the sale, $75\%$; collected the second month following the sale, $15\%.$ Payments for labor and raw materials are made the month after these services were provided. Here are the estimated costs of labor plus raw materials:

May $2021$ $ $75,000$

June $75,000$

July $105,000$

August $735,000$

September $255,000$

October $180,000$

November $120,000$

December $75,000$

General and administrative salaries are approximately $$27,000$ a month. Lease payments under long$-$term leases are $$9,000$ a month. Depreciation charges are $$36,000$ a month. Miscellaneous expenses are $$2,700$ a month. Income tax payments of $$68,000$ are due in September and December. A progress payment of $$190,000$ on a new design studio must be paid in October. Cash on hand on July $1$ will be $$138,000,$ and a minimum cash balance of $$90,000$ should be maintained throughout the cash budget period.Do not round intermediate calculations. Round your answers to the nearest dollar. If your answer is zero, enter $"0".$Prepare a monthly cash budget for the last $6$ months of $2021.$ All payments and expenses should be entered as positive numbers. Net cash losses, negative cash balance, negative cumulative cash, and cumulative loans outstanding, if any, should be indicated by a minus sign.July August September October November December

Collections and purchases worksheet

Sales $($gross$)$ $ fill in the blank $2$

$ fill in the blank $3$

$ fill in the blank $4$

$ fill in the blank $5$

$ fill in the blank $6$

$ fill in the blank $7$

Collections

During month of sale $ fill in the blank $8$

$ fill in the blank $9$

$ fill in the blank $10$

$ fill in the blank $11$

$ fill in the blank $12$

$ fill in the blank $13$

During $1$st month after sale fill in the blank $14$

fill in the blank $15$

fill in the blank $16$

fill in the blank $17$

fill in the blank $18$

fill in the blank $19$

During $2$nd month after sale fill in the blank $20$

fill in the blank $21$

fill in the blank $22$

fill in the blank $23$

fill in the blank $24$

fill in the blank $25$

Total collections $ fill in the blank $26$

$ fill in the blank $27$

$ fill in the blank $28$

$ fill in the blank $29$

$ fill in the blank $30$

$ fill in the blank $31$

Purchases

Labor and raw materials $ fill in the blank $32$

$ fill in the blank $33$

$ fill in the blank $34$

$ fill in the blank $35$

$ fill in the blank $36$

$ fill in the blank $37$

Payments for labor and raw materials $ fill in the blank $38$

$ fill in the blank $39$

$ fill in the blank $40$

$ fill in the blank $41$

$ fill in the blank $42$

$ fill in the blank $43$

Cash gain or loss for month

Collections $ fill in the blank $44$

$ fill in the blank $45$

$ fill in the blank $46$

$ fill in the blank $47$

$ fill in the blank $48$

$ fill in the blank $49$

Payments for labor and raw materials $ fill in the blank $50$

$ fill in the blank $51$

$ fill in the blank $52$

$ fill in the blank $53$

$ fill in the blank $54$

$ fill in the blank $55$

General and administrative salaries fill in the blank $56$

fill in the blank $57$

fill in the blank $58$

fill in the blank $59$

fill in the blank $60$

fill in the blank $61$

Lease payments fill in the blank $62$

fill in the blank $63$

fill in the blank $64$

fill in the blank $65$

fill in the blank $66$

fill in the blank $67$

Miscellaneous expenses fill in the blank $68$

fill in the blank $69$

fill in the blank $70$

fill in the blank $71$

fill in the blank $72$

fill in the blank $73$

Income tax payments fill in the blank $74$

fill in the blank $75$

fill in the blank $76$

fill in the blank $77$

fill in the blank $78$

fill in the blank $79$

Design studio payment fill in the blank $80$

fill in the blank $81$

fill in the blank $82$

fill in the blank $83$

fill in the blank $84$

fill in the blank $85$

Total payments $ fill in the blank $86$

$ fill in the blank $87$

$ fill in the blank $88$

$ fill in the blank $89$

$ fill in the blank $90$

$ fill in the blank $91$

Net cash gain $($loss$)$ during month $ fill in the blank $92$

$ fill in the blank $93$

$ fill in the blank $94$

$ fill in the blank $95$

$ fill in the blank $96$

$ fill in the blank $97$

Loan requirement or cash surplus

Cash at start of month $ fill in the blank $98$

$ fill in the blank $99$

$ fill in the blank $100$

$ fill in the blank $101$

$ fill in the blank $102$

$ fill in the blank $103$

Cumulative cash $ fill in the blank $104$

$ fill in the blank $105$

$ fill in the blank $106$

$ fill in the blank $107$

$ fill in the blank $108$

$ fill in the blank $109$

Target cash balance fill in the blank $110$

fill in the blank $111$

fill in the blank $112$

fill in the blank $113$

fill in the blank $114$

fill in the blank $115$