Paperclip Company's budget committee provides the following intormation EtA (Click the icon lo view the Information) Read the inquirements Requirement 1. Prepare the schedule of cash receipts frons customers for January and Fobruary 2024 Assume cash receipts are 60% in the month of the sale and 40 ne in the month following the sale Requirement 2. Prepare the schedule of cash payments for purchases for January and f ebruary 2024 Assuale purchases are paid 30 F in the inonth of puichase and 70 s in the month following the purchase Data table Data table Requirements 1. Prepare the schedule of cash receipts from customers for January and February 2024. Assume cash receipts are 60% in the month of the sale and 40% in the month following the sale. 2. Prepare the schedule of cash payments for purchases for January and February 2024. Assume purchases are paid 30% in the month of purchase and 70% in the month following the purchase. 3. 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. 4. Prepare the cash budget for January and February 2024. Assume no financing took place. Requirement 2. Prepare the schedule of cash paymants for purchases for January arid Fobruary 2024 Assume purchases are paid 30% os in the month of purchase and 70 \% in the month following the purchase Requirement 3. Prepare the schedulo of cash payments for selling and adminatrative expenses for Janiary and February 2024 Assume 40% of the accrual for 5 alaries and Commissions Payable is for commisslons and 60% is for salaries. The December 31 balance will be paid in January. S alaries and commissions are paid 70% in the month incuered and 30% in the following month. Rent and income tax expenses are paid as incurred fnsurance expense is an expiration of the prepald amount (Round your ansirert lo the neartet wholen number Pequirement 3. Prepare the schedule of cash payments for seling and administrative expenses for January and f chruary 2024 Assurse 40\%, of the accrual for Salaries and Commissions Payable is for commitsions and 60% is for salares. The December 31 balance wilf be paid in January Salaries and cormmissions are paid 70% in the month incumed and 30% in the folowing month Rent and income tax expenses are paid as incurred Insurance epense is an expiration of the prepaid amount (Round youe answers to the nnarest whole number) Paperclip Company's budget committee provides the following information: Requirement 4. Prepare the cash budget for January and February 2024. Assume no financing took place. Requirement 4. Prepare the cash budget for January and February 2024. Assume no financing took place
