Notebook Company's budget committee provides the following information:

$($Click the icon to view the information.$)$

Read the requirements.

Requirements

Data table

Prepare the schedule of cash receipts from customers for January and

February $2024.$ Assume cash receipts are $70\%$ in the month of the sale and

$30\%$ in the month following the sale.

Prepare the schedule of cash payments for purchases for January and

February $2024.$ Assume purchases are paid $60\%$ in the month of purchase

and $40\%$ in the month following the purchase.

Prepare the schedule of cash payments for selling and administrative

expenses for January and February $2024.$ Assume $40\%$ of the accrual for

Salaries and Commissions Payable is for commissions and $60\%$ is for

salaries. The December $31$ balance will be paid in January. Salaries and

commissions are paid $70\%$ in the month incurred and $30\%$ in the following

month. Rent and income tax expenses are paid as incurred. Insurance

expense is an expiration of the prepaid amount.

Prepare the cash budget for January and February $2024.$ Assume no

financing took place.