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Show Me How Cash Budget The controller of Bridgeport Horsewaresine. Instructs you to prepare a monthly cathet for the three months pred the forudget what September October November Sales 595,000 $117,000 $155.000 Manufacturing costs 40,000 50,000 50,000 Selling and administrative 33,000 35,000 59,000 expenses Capital expenditures 37,000 The company expects to sell about 10% of its merchandise for cash of sales on account, yo are expected to be collected in the most flowing the wind the minder the following sale). Depreciation, Ineurance, and property tax expense represent $9,000 of the estimated monthly manufacturing costs. The man premium is paid in tayo are paid in December of the remainder of the manufacturing costs, 60s are expected to be part in the month which they are incred and the house Current assets as of September 1 include cash of $30,000, marketable securities of 551,000, and accounts receivable of 103,300 (32.000 bromy sales and 10,000 from August July and August Ware $76,000 and $89.000, respectively. Current abilities as of September bude $9,000 of accounts payable curred in August for manufacturing and are paid in cash in the period they are incurred. An estimated income tax payment of $14,000 will be made in October portar y dividend of 1,000 spected to be red and paid in November Management desires to maintain a minimum cash balance of $35.000 Required: 1. Prepare a monthly cash budget and supporting schedules for September October, and Rovember Astume 100 days per year for interactions Bridgeport Housewares Inc. Cash Budget For the Three Months Ending November 30 September October November Bridgeport Housewares Inc. Cash Budget For the Three Months Ending November 30 September October November Estimated cash receipts from: Cash sales 9,500 $ 11,700 15,500 Collection of accounts receivable 65,700 X 54,850 X 73,150 X Total cash receipts Less estimated cash payments for: other purposes: I dun Total cash payments INI I Cash balance at end of month Grup Total cash payment IINUI Cash Blanch and of month Excwor (docency) Peam My W The primary source of stated cash recepti is from cash and collection on account To estimate receipts from cash sales and collections on account schedule of collections from a speared 2. On the basis of the cas badget prepared in part, what recommendations made to the corre The budget Indicates that the minimum cash balance will not be maintained indeber. The station can be corrected by any test Secodies they are held for such purposes. At the ed of September October the state will need tinum dance