Need Requirements 1a and 1b. PLEASE.

Kevin's Manufacturing is preparing its cash budgets for the first 2 months of the upcoming year. The following information concerns the company's upcoming cash receipts and cash disbursements. (Click the icon to view the information.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show amounts for each month and totals for January and February. 2. Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 28? Requirement 1a. Prepare a schedule of budgeted cash collections for January and February Cash Collections Budget January February Cash sales Credit sales Total cash collections a. Sales are 75% cash and 25% credit. Credit sales are collected 10% in the month of sale and the remainder in the month after sale. Actual sales in December were $53,000. Schedules of budgeted sales for the 2 months of the upcoming year are as follows: Budgeted Sales Revenue January ............... $63,000 February .............. $70,000 b. Actual purchases of direct materials in December were $24,000. Kevin's purchases of direct materials in January are budgeted to be $20,000 and $27,500 in February. All purchases are paid 25% in the month of purchase and 75% the following month. c. Salaries and sales commissions are paid half in the month earned and half the next month. Actual salaries were $7,000 in December. Budgeted salaries in January are $8,000 and February budgeted salaries are $9,500. Sales commissions each month are 15% of that month's sales. d. Rent expense is $2,900 per month. e. Depreciation is $2,400 per month. 4. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $11,500. 9. The cash balance at the end of the prior year was $23,000. b. Prepare a schedule of budgeted cash payments for purchases for January and February (Leave any unused cells blank.) Cash Payments for Direct Material Purchases Budget January February December purchases January purchases February purchases Total cash payments for direct material purchases