Please help with the attached

Cash Budget The controller of Bridgeport Housewares Inc, instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $122,000 $157,000 szognmn Manufacturing oosts 51,000 63,000 75,000 Selling and administrative expenses 43pm 47,000 79,000 Capital expenditures _ _ 50,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the followrng month (second month following sale). Depreciation, insurance, and property tax expense represent $6,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual propem/ taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Current assets as of September 1 include cash of 546,000, marketable securities of $66,000, and accounts receivable of $136,400 ($29,400 from Julyr sales and $107,000 from August sales}. Sales on acoount for July and August were $98,000 and $107,000, respectively. Current liabilities as of September 1 include 56,000 of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $19,000 will be made in October. Brldgeport's regular quan'erly dividend of $6,000 is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of $45,000. Required: 1. Prepare a monthly cash budget and supporting schedules for September, October, and November. Assume 360 days per year for interest calculations. Bridgeport Housewares Inc. Cash Budget For the Three Months Ending November 30 September October November Estimated cash receipts from: Total cash receipts Less estimated cash payments for: Other purposes: Total cash payments Cash balance at end of month Excess or (deficiency) 1000800 0 00 10000000 0002. 0n the basis of the cash budget prepared in part (1], what recommendation should be made to the controller? The budget indicates that the minimum cash balance V be maintained in November. This situation can be corrected by v andlor by the V of the marketable securities, if they are held for such purposes. At the end of September and October. the cash balance will 7 the minimum desired balance