Hunter's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the informaton about the company's upcoming cash receipts and cat disbursements: (Cick the loon to view the inlormation.) Requirements 1. Prepare schedules of (a) budgeted cash-colections, (b) budgeted cash payments for purchases, and (c) bucgeted cash payments for operating expenses. Show totals for each month and totals for January and February combined. 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28 ? More info a. Sales are 65% cash and 35% credit. Credit sales are collected 30% in the month of sale and the remainder in the month after sale. Actual sales in December were $54,000. Schedules of budgeted sales for the two months of the upcoming year are as follows: b. Actual purchases of direct materials in December were $22,500. The company's purchases of direct materials in January are budgeted to be $22,000 and $27,000 in February. All purchases are paid 25% in the month of purchase and 75% the following month. c. Salaries and sales commissions are also paid half in the month earned and half the next month. Actual salaries were $9,000 in December. Budgeted salaries in January are $10,000 and February budgeted salaries are $11,500. Sales commissions each month are 12% of that month's sales. d. Rent expense is $2,800 per month. e. Depreciation is $2,600 per month. f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $13,500. g. The cash balance at the end of the prior year was $25,000