Personal Budget At the beginning of the school year, Craig Kovar 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 Pay fall semester tuition in September $8,720 120 300 4,700 420 Pay rent at the beginning of each month Pay for food each month 240 Pay apartment deposit on September 2 (to be returned December 15) Part-time job earnings each month (net of taxes) 600 1,080