January February March Data Actual January and February and expected March sales: Cash sales Sales on account Total Sales $ 1,600 $ 3,750 $ 5,100 25,000 30,000 40,000 $ 26,600 $ 33.750 $ 45.100 Accounts Receivable Collections: Month of sale Month following sale Second month following sale Uncollectible 15% 60% 22% 3% $10,500 $23,500 Accounts payable for inventory purchases, March 1 balance Budgeted inventory purchases in March Inventory payments: Month of purchase Month following purchase 60% 40% Total budgeted selling & administrative expenses in March Budgeted selling & administrative depreciation in March $12,500 $3,200 Other budgeted rach dichureements in March Pudant Data o Didat $10,00 $23,500 payable hases, March I balance Budgeted inventory purchases in March Inventory payments: Month of purchase Month following purchase 60% 40% Total budgeted selling & administrative expenses in March Budgeted selling & administrative depreciation in March $12,500 $3,200 Other budgeted cash disbursements in March Equipment purchases Dividends to be paid $14,000 $2,000 Minimum cash balance to be maintained March 1 cash balance March 1 outstanding borrowings March 1 interest due $10,000 $11,500 $0 $0 The company has a line of credit available to bolster the cash balance as needed. When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. Click the Schedules and Cash Budget tab to prepare the following: 2 March cash collections 3 March collections on account: 4 January sales 5 February sales 6 March sales 7 Total cash collections 8 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 S&P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Faninment purchases 14 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Excess (deficiency) of cash available over disbursements 29 Financing: 30 Borrowings 31 Repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35