Personal Budget At the beginning of the school year, Priscilla Wescott 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 lnfon'nation relates to the budget: Cash balance, September 1 (from a summer job) $6,510 Purchase season football tickets in September 90 Additional entertainment for each mon'd'l 230 Pay fall semester tuition in September 3,500 Pay rent at the beginning of each month 320 Pay for food each month 130 Pay apartment deposit on September 2 [to be returned December 15) 500 ) Parttime job earnings each month [net of taxes) 810 a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease Iwhich should be indicated with a minus sign. Priscilla Wescott 05h Budget For lhe Four Honls Ending December 31 September October November December Estimated cash receipts from: Cash increase (decrease) .31. v Cash balance at end of mood. ' ii i ll ii ii ' l: Total cashreceipts w \"ill ll " E ' :l 9i: C C ' j " _l l l ' :l l: l: " :1 Total cash payments filll L lil l l Q Q |D_ ll T lll I). Are the four monthly budgets that are presented prepared as static budgets or exible budgets? Y c. 1Illihat are the budget implications for Priscilla 'ii'il'escott'FI Priscilla can see that her present plan V sufcient cash. If Priscilla did not budget but went ahead with the original plan, she would be E V at the end of December, with no time left to adjust