Northern Industries provided the following sales information for the month of March: February March Actual Budget Cash sales $ 25,350.00 $ 23,400.00 Credit sales 143,650.00 171,600.00 Total sales $169,000.00 $195,000.00 For credit sales, the collection pattern is as follows: Month of sales 40% Month following sales 56% Based on past experience, the company estimates the remaining credit sales are uncollectible. Inventory purchases average 90% of current month's total sales. Payments for inventory are made as follows: Month of purchase 20% Month following purchase 80% Other expenses are as follows: Salaries and benefits per month $ Rent and insurance per month $ Office supplies per month $ Payroll tax per quarter to be paid in March $ Depreciation expenses per month $ 8,874.00 3,060.00 4,420.00 765.00 1,275.00 IUJ.UU rayoll la per qualci w uc paiu III IVICII Depreciation expenses per month March 1 cash balance is $2,304.00. $ 1,275.00 Required: Prepare a cash budget for the month of March and use it to answer the following questions. Cash sales and collections on account for the month are $ I A/ Payments for inventory for the month are $ A/ Payments for all other expenses for the month are $ A/ The ending cash balance at the end of the month is $ A/