PersonalBudget

At the beginning of the school year, Priscilla Wescott decided to prepare acash budgetfor 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)$8,590Purchase season football tickets in September120Additional entertainment for each month300Pay fall semester tuition in September4,600Pay rent at the beginning of each month420Pay for food each month240Pay apartment deposit on September 2 (to be returned December 15)600Part-time job earnings each month (net of taxes)1,070

a.Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease which should be indicated with a minus sign.

Priscilla WescottCash BudgetFor the Four Months Ending December 31SeptemberOctoberNovemberDecemberEstimated cash receipts from:Part-time job

$$$$Deposit

Total cash receipts$$$$Less estimated cash payments for:Season football tickets

$Additional entertainment

$$$Tuition

Rent

Food

Deposit

Total cash payments$$$$Cash increase (decrease)$$$$Less cash balance at beginning of month

Cash balance at end of month$$$$