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) $6,440 Purchase season football tickets in September 90 Additional entertainment for each month 220 Pay fall semester tuition in September 3,500 Pay rent at the beginning of each month 310 Pay for food each month 180 Pay apartment deposit on September 2 (to be returned December 15) 400 Part-time job earnings each month (net of taxes) 800 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 Estimated cash receipts from: December Part-time job 800 $ 800 800 $ 800 Deposit 400 Total cash receipts 1,200 X $ 1,200 $ 1,200 $ 1,200 Estimated cash payments for: Season football tickets $ 90 Additional entertainment 220 $ 220 220 220 Tuition 3,500 Rent 310 310 310 310 Food 180 180 180 180 Deposit 100 X Total cash payments $ 4,400 $ 710 $ 710 $ 710 Overall cash increase (decrease) -3,200 X $ 490 X $ 490 $ 490 Cash balance at beginning of month 6,440 6,440 6,440 X 6,440 Cash balance at end of month 3,240 X $ 6,930 X $ 6,930 X $ 6,930