= Homework: M 5 Homework B - Graded Jayson Company has prepared the following schedules and additional information: (Click the icon to view the cash receipts schedule.) (Click the icon to view the cash payments schedule.) i (Click the icon to view the additional information.) Question 5, EM5-28 (similar to) Part 1 of 4 Complete a cash budget for Jayson Company for January, February and March. (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency with a minus sign or parentheses.) Beginning cash balance Cash receipts Cash available Jayson Company Cash Budget January, February, and March Cash payments: Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance More info January Jayson's beginning cash balance is $7,000 and Jayson desires to maintain a minimum ending cash balance of $7,000. Jayson borrows cash as needed at the beginning of each month in increments of $1,000 and repays the amounts borrowed in increments of $1,000 at the beginning of months when excess cash is available. The interest rate on amounts borrowed is 14% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Print Done Reference Cash Receipts from Customers HW Score: 6.25%, 2 of 32 points O Points: 0 of 6 Reference Save January February March Total Total sales Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales $ January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February 7,420 1.590 January February March Total Cash Payments $ 10,600 $ 12,300||$ January 10,400 $ 33,300 Direct Materials: February March Total Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials S 0 S 3,800 0 3,800 4,200 4,200 8,000 February-Cash sales February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March $ 1,590 8,610 1,845 Direct Labor: Total payments for direct labor 2,700 3,300 4,400 10,400 1,845 Manufacturing Overhead: March-Cash sales 7,280 Utilities for plant 720 720 1,440 March-Credit sales, collection of March sales in March 1,560 Property taxes on plant 1,800 1,800 9,010 12,045 $ 10.685 31,740 Total cash receipts from customers Total payments for manufacturing overhead 1,800 720 720 3,240 Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April $ 1,560 Print Done Selling and Administrative Expenses: Utilities for office 510 510 1,020 Property taxes on office 2,040 2,040 Office salaries 3,500 3,500 3,500 10,500 Total payments for Selling and Admin. expenses 5,540 4,010 4.010 13,560 10,040 11,830||$ 13,330 35,200 Total cash payments Acccount balances, March 31 Prepaid Property Taxes $ 2,880 Accounts Payable $ 4,400 Utilities Payable $ 1.230 Print Done