LimeLemon has reviewed past collection history and has determined that credit sales will be collected as follows: 60% is collected in the month of sale and 40% is collected the following month. The total credit sales for the month of March 2019 were $45,000. Prepare the budgeted schedule of cash receipts for the first quarter. LimeLemon Inc. Schedule of Cash Receipts For the Quarter Ended June 30, 2019 April May June Period End 190 LimeLemon will pay for 50% of its purchases of material in the month the material is purchased, and the remaining 50% in the following month. The total credit purchases for the month of March 2019 were $25,000. Prepare the budgeted schedule of cash disbursements for the first quarter. LimeLemon Inc. Schedule of Cash Disbursements For the Quarter Ended June 30, 2019 April May June Period End Prepare a cash budget for the first quarter. ssume the following: 1) LimeLemon has access to an open line of credit with the bank to borrow money if needed. To keep things simple, ignore interest calculations on the bank borrowings. Also, loan borrowings and repayments are taken in multiples of $1,000. 2) LimeLemon started the year with $11,300 in its bank account and must maintain a minimum cash balance of $4,000 at the end of each month. 3) Limelemon maintains that it will repay debts as soon as possible with any excess cash that becomes available. 4) LimeLemon has budgeted the following for 2019: Payment for operating expenses = $15,600 for April, S14,300 for May, and $12,500 for June Depreciation expense is $2,500 a month. Limelemon will need to purchase new equipment costing $38,000. LimeLemon will pay $8,000 in April and the remaining balance in May. Cash dividends of $1,000 will be paid to in all three months of the first quarter. . . LimeLemon has reviewed past collection history and has determined that credit sales will be collected as follows: 60% is collected in the month of sale and 40% is collected the following month. The total credit sales for the month of March 2019 were $45,000. Prepare the budgeted schedule of cash receipts for the first quarter. LimeLemon Inc. Schedule of Cash Receipts For the Quarter Ended June 30, 2019 April May June Period End 190 LimeLemon will pay for 50% of its purchases of material in the month the material is purchased, and the remaining 50% in the following month. The total credit purchases for the month of March 2019 were $25,000. Prepare the budgeted schedule of cash disbursements for the first quarter. LimeLemon Inc. Schedule of Cash Disbursements For the Quarter Ended June 30, 2019 April May June Period End Prepare a cash budget for the first quarter. ssume the following: 1) LimeLemon has access to an open line of credit with the bank to borrow money if needed. To keep things simple, ignore interest calculations on the bank borrowings. Also, loan borrowings and repayments are taken in multiples of $1,000. 2) LimeLemon started the year with $11,300 in its bank account and must maintain a minimum cash balance of $4,000 at the end of each month. 3) Limelemon maintains that it will repay debts as soon as possible with any excess cash that becomes available. 4) LimeLemon has budgeted the following for 2019: Payment for operating expenses = $15,600 for April, S14,300 for May, and $12,500 for June Depreciation expense is $2,500 a month. Limelemon will need to purchase new equipment costing $38,000. LimeLemon will pay $8,000 in April and the remaining balance in May. Cash dividends of $1,000 will be paid to in all three months of the first quarter