Kentucky Company Cash Budget For the First Six Months of 2021 Jan. Feb. March Cash balance, beginning Add: Cash receipts Collection of accounts (Sch. 1) Totals Less: Cash payments P46,000 P40,000 P40,000 April P40,000 May June P40,000 P40,000 98,000 78,000 90,000 150,000 166,000 196,000 P144,000 P118,000 P130,000 P190,000 P206,000 P236,000 Accounts payable(Sch. 2) P58,000 P36,000 P76,000 Expenses 16,000 14,000 P66,000 22,000 16,000 P82,000 P116,000 24,000 28,000 Purchase of equipment 86,000 Purchase of bond investment 50,000 Withdrawals for personal use 15,000 15,000 15,000 15,000 15,000 15,000 Totals P89,000 P115,000 P107,000 P189,000 P121,000 P159,000 Cash balance, ending PS5,000 P3,000 P23,000 P1,000 P85,000 P77,000 Less: Excess cash on hand 15,000 45,000 37,000 Add: New borrowings 37,000 17,000 Cash balance, ending P40,000 P40,000 P40,000 P40,000 Cumulative investments Cumulative borrowings Schedule P15,000 P15,000 P15,000 P37,000 P54,000 39,000 P40,000 P15,000 P60,000 P97,000 P93,000 P40,000 P93,000 P93,000 Jan Feb. March Sales P92,000 P82,000 P102,000 April P146,000 May P172,000 June P188,000 Accounts receivable 6,000 Collections P98,000 (4,000) P78,000 (12,000) 4,000 P90,000 P150,000 (6,000) P166,000 Schedule 2 Cost of sales P50.000 Feb P46,000 March P56,000 April P68,000 May Inventories 8,000 (8,000) 14,000 O P88,000 (10,000) 8,000 P196,000 June P96,000 16,000 Purchases P58,000 P38,000 P70,000 P68,000 P78,000 P112,000 Accounts payable 0 (2,000) Payments P58,000 P36,000 6,000 P76,000 (2,000) 4,000 4,000 P66,000 P82,000 P116,000 Prepare Cash Budget with this Additional Information: Jan. Feb. Mar. Apr. May June Prepaid 3,000 2,000 4,000 (3,000) (2,000) (4,000) operating expenses Accrued 5,000 6,000 7,000 (5,000) (6,000) (7,000) operating expenses