I need help finishing requirement 3 and 4. Requirement 4 is not being displayed until I conclude requirement 3. Thank you for your help.

0 Requirements 1. Prepare the schedule of cash receipts from customers for January and February 2024. Assume cash receipts are 70% in the month of the sale and 30% in the month following the sale. 2. Prepare the schedule of cash payments for purchases for January and February 2024. Assume purchases are paid 30% in the month of purchase and 70% in the month following the purchase. 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2024. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 60% in the month incurred and 40% 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 2024. Assume no financing took place. Print Done Paperclip Company Budgeted Cash Payments for Selling and Administrative Expenses Two Months Ended February 28, 2024 January February Variable expenses: 40% of last month's Commission Expense 60% of current month's Commission Expense Total payments for variable expenses Fixed expenses 40% of last month's Salaries Expense 60% of current month's Salaries Expense Rent expense Total payments for fixed expenses Total payments for S and A expenses Data Table December 31, 2023, account balances: $ 20,000 Cash 12,000 Accounts Receivable Merchandise Inventory Accounts Payable Salaries and Commissions Payable 21,000 12,500 2,650 Budgeted amounts for 2024: Sales, all on account January February $ 85,000 $ 85,300 40,200 41,300 4,250 4,265 4,500 4,500 Purchases, all on account Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense 2,000 2,000 400 400 200 200 2,200 2,200 Print Done 0 Requirements 1. Prepare the schedule of cash receipts from customers for January and February 2024. Assume cash receipts are 70% in the month of the sale and 30% in the month following the sale. 2. Prepare the schedule of cash payments for purchases for January and February 2024. Assume purchases are paid 30% in the month of purchase and 70% in the month following the purchase. 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2024. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 60% in the month incurred and 40% 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 2024. Assume no financing took place. Print Done Paperclip Company Budgeted Cash Payments for Selling and Administrative Expenses Two Months Ended February 28, 2024 January February Variable expenses: 40% of last month's Commission Expense 60% of current month's Commission Expense Total payments for variable expenses Fixed expenses 40% of last month's Salaries Expense 60% of current month's Salaries Expense Rent expense Total payments for fixed expenses Total payments for S and A expenses Data Table December 31, 2023, account balances: $ 20,000 Cash 12,000 Accounts Receivable Merchandise Inventory Accounts Payable Salaries and Commissions Payable 21,000 12,500 2,650 Budgeted amounts for 2024: Sales, all on account January February $ 85,000 $ 85,300 40,200 41,300 4,250 4,265 4,500 4,500 Purchases, all on account Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense 2,000 2,000 400 400 200 200 2,200 2,200 Print Done