Instructions Labels and Amount Descriptions Cash Budget Instructions The treasure of Caico Dreams Company has accumulated the following budget information for the first two months of the coming fiscal year March $450,000 290,000 April $520,000 350,000 Sales Manutacturing costs Selling and administrative expenses Capital additions 45.400 41,400 250,000 The company expects to sell about 35% of its merchandise for cash. Osales on account, 80% are collected in full in the month of the sale and the remainder in the month following the sale. One-fourth of the manufacturing costs are paid in the month in which they are incurred and the other the fourth in the following month. Depreciation, insurance and property taxes represent 88,400 of the monthly selling and administrative expenses Insurance is paid in February, and property taxes are paid yewly in September. A $40.000 installment on income taxes is to be paid in April. Of the remainder of the selling and administrative expenses, one halt is to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $250,000 are paid in March Current assets as of March are composed of each of $45.000 and accounts receivable at $50,000. Current Kabines as of March 1 we accounts payable of $121.500 (3102,000 to materials purchases and $10.500 for operating expenses). Management desires to maintain a minimum cash balance of $25,000 Required: Prepare a monthly cash budget for March and April. Refer to the list of Accounts in the information given, Lates, and more for the exact wording of the answer choices for text entries. You will not need to enter colons() on the statement Negative amount should indicated by the minus sign