Need help creating the first quarter master budget based on the following expectations:

a. October sales are estimated to be $650,000, 22% of which will be cash sales and 78% will be on credit. The company expects sales to grow 8% per month for the first few months of operation. Prepare a sales budget for the first quarter.

b. The company expects to collect 25% of accounts receivable in the month following the sale and 75% the month after that. Prepare a schedule of expected cash receipts for the first quarter.

c. Cost of goods sold will be 65% of sales. Company policy is to budget an ending inventory balance equal to 20% of the next month's projected cost of goods sold. Assume Elliott expectsJanuary 2023cost of goods sold to be $490,000. Prepare an inventory purchases budget.

d. All inventory purchases are on account. The company pays 50% of accounts payable in the month of purchase. It pays the remaining 50% in the following month. Prepare a schedule of expected cash payments for inventory purchases.

e. Budgeted monthly selling and administrative expenses are:

Salary Expense (Fixed)	$38,000
Sales Commissions	4% of Sales
Supplies Expense	5000
Utilities (Fixed)	$ 2,400
Depreciation on Center Equipment (Fixed)*	$ 1,750
Rent (Fixed)	$ 5,000
Miscellaneous (Fixed)	$ 900

*The capital expenditures budget shows that Elliott must purchase $125,000 of equipment on January 1 to establish the new center. The equipment supplier allows a thirty-day trial period. Elliott will pay for the equipment on October 31. The equipment is expected to have a 7-year useful life and a $10,000 salvage value.

selling and administrative expense budget.

f. Sales commissions are paid in the month after the month in which they are incurred. All other expenses are paid in the month they are incurred. Prepare a schedule of cash payments for selling and administrative expenses.

g. Using a line of credit, Elliott borrows and repays principal in increments of $1,000 on the last day of the month as needed. It pays interest of .75 percent per month in cash on the last day of the month. Company policy is to maintain an ending cash balance of at least $21,000. Use this information and the schedules produced above to prepare a cash budget

What i have currently not sure if I am on the right track.

A.

Estimated Sales Growth Rate	8% per month
Sales Budget
Estimated Sales	$ 650,000.00
Projected Sales	Oct	Nov	Dec	Quarter Total
Cash Sales	$ 143,000.00			$ 143,000.00
Sales on Account	$ 507,000.00	$ 547,560.00	$ 591,364.80	$ 1,645,924.80
Total Budgeted Sales	$ 650,000	$ 547,560	$ 591,365	$ 1,788,925

B.

Schedule of Expected Cash Receipts for the First Quarter
Schedule of Cash Receipts	Oct	Nov	Dec	Quarter Total
Current Month's Cash Sales	$ 143,000.00	$ -	$ -
Current Month's Credit Sales	$ 507,000.00	$ 547,560.00	$ 591,364.80
Cash	$ 143,000.00			$ 143,000.00
November	$ 126,750.00	$ 136,890.00		$ 263,640.00
December	$ 380,250.00		$ 410,670.00	$ 790,920.00
Total Budgeted Cash Collections	$ 650,000	$ 136,890	$ 410,670	$ 1,197,560