OBJ. 2, 5 At the beginning of the school year, Katherine Malloy decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) Purchase season football tickets in September Additional entertainment for each month $5,750 210 275 Pay fall semester tuition in September 3,700 Pay reet at the beginning of each month 600 Pay for food each month 235 Pay apartment deposit on September 2 to be returned December 15) 500 Part-time job earnings each month (net of taxes) 1,400 a. Prepare a cash budget for September, October, November, and December. ANSWER b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? What are the budget implications for Katherine Malloy?