HELP!

Cape The controle of Bridgeport Housewares Ine instructs you to pramonly ch budget for the next three months. You are presented with the following budget information September October November Sales $145,000 $17,000 $247,000 Maracturing costs 61.000 74,000 89,000 Selling and administrative $1,000 52.000 expenses 94,000 Capital expenditures 59,000 The company expects to sell about 10% of its merchandise for cash of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month Powing sele). Deprecation, insurance and property tax expense represent $10,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December of the remainder of the manufacturing costs, are expected to be paid in the month in which they are incurred and the balance in the following month Current assets as of September 1 include cash of $55.000,marketable securities of $78,000, and accounts receivable of $161,100 (534,800 from Duy sales and 5127,000 from August sales). Sales an account for July and August were 5116,000 and 5127,000, respectively. Current abilities as of September 1 include $10,000 of accounts payable incurred in August for manufacturing costs. Al seling and administrative penses are paid in cash in the period they we incurred. An estimated Income tax payment of $21,000 wil be made in October Bridgeport's regular carterly dividend of $10,000 is expected to be declared in October and gold in November Management desires to maintain a minimum cash balance of $54,000 Required: 1. Prepare a monthly cash budget and supporting schedules for September October, and November. Assume 360 days per year for interest calculations. Bridgeport Housewares Inc. Cash Budget For the Three Months Ending November 30 88 Cash Budget For the Three Months Ending November 30 September October November Estimated cash receipts from: Cash sales Collection of accounts receivable Total cash receipts Less estimated cash payments for Manufacturing costs Selling and administrative expenses Capital expenditures Other purposes Income tax Dividends Total cash payments Cash increase or decrease) Plus cash balance at beginning of month DO QU ORDI 10000000000 Cash balance at end of month Less minimum cash balance . Excess or (deficiency)