OctoberNovemberDecember

Credit Sales105600 112000 138000

Cash Sales21200 2642031200

Receipts from Accounts Receivable 1. ? ? ?

Wages282002820028200

Office Furniture600078000

Prepayments 005275

Administrative Expense100001000011900

Depreciation on Office Furniture 250025002500

Receipt of Loan01000000

Credit Purchases420004200058000

Payments of Accounts Payable 2. ? ? ?

Accrued Expenses006700

Actual Receipts (money in) from Accounts Receivable are 70% of the previous

months Credit Sales and the balance of 30% owing is received in the following

month. For example if we had Credit Sales of $100000 in January we would

expect to receive 70% of that $100000 in February and the balance (30%) in

March.

Credit Sales for September 2020 were $80,000 as they were in August 2020.

Cash Sales were $16,500 in August 2020 and $18,000 in September of 2020.

Payment of Accounts Payable is paid 60% of purchases in the month of

purchase and the remaining 40% in the month following. Purchases in

September 2020 were $36,000.

The cash balance at 1 October 2020 was $52,890

I need help with calculating the cash budget month by month for the quarter ending 31 December 2020, and the question marks provided in the table.