How do you do a schedule of cash receipts from customers, cash payments for purchases, cash payments for selling and administrative expenses and cash budget with this information?

PIZZA-45A Preparing a nancial budgetschedule of cash receipts, schedule cash payments, cash budget Knobbles Company's budget committee provides the following information: December 31, 2015, account balances: Cash 55 23,000 Accounts Receivable 20,000 Merchandise Inventory 20,000 Accounts Payable 1 1,500 Salaries and Commissions Payable 2,850 Budgeted amounts for 2016: January February Sales 3% 80,000 $ 81,600 Purchases 40,200 41 ,000 Commissions Expense 4,000 4,080 Salaries Expense 2,000 7,000 Rent Expense 2,000 2,000 Depreciation Expense 600 600 Insurance Expense 400 400 Income Tax Expense 2,200 2,200 Requirements 1. Prepare the schedule of cash receipts from customers for January and February 2016. Assume cash receipts are 60% in the month of the sale and 40% in the month following the sale. 2. Prepare the schedule of cash payments for purchases for January and February 2016. Assume purchases are paid 60% in the month of purchase and 40% in the month following the purchase. 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2016. Assume 25% of the accrual for Salaries and Commissions Payable is for commissions and 75% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. 4. Prepare the cash budget for January and February 2016. Assume no nancing took place