Personal Budget 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) $6,780 Purchase season football tickets in September 90 Additional entertainment for each month 240 Pay fall semester tuition in September 3,700 Pay rent at the beginning of each month 330 Pay od each month 180 Pay apartment deposit on September 2 (to be returned December 15) 500 Part-time job earnings each month (net of taxes) 840 a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an overall cash decrease which should be indicated with a minus sign. KATHERINE MALLOY Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job Deposit Total cash receipts Estimated cash payments for: Season football tickets $ Additional entertainment Tuition Rent Food Deposit Total cash payments II 2000 Overall cash increase (decrease) $ Cash balance at beginning of month Cash balance at end of month b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? Static sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be $ short at the end of c. Malloy can see that her present plan will not provide December, with no time left to adjust