please look at both parts of the problem, part one and part two. the numbers already filled in are right for both worksheets. thank you and please take you time when doing the problems as i have gotten jt wrong 4 times now, thank you

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: 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 following month (second month following sa'e). 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 property 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 $49,000, marketable securities of $69,000, and accounts recelvable of $142,600 ( $30,600 from July sales and $112,000 from August soles). Sales on account for July and August were $102,000 and $112,000, respectively. Current liabilities as of September 1 include $6,000 of accounts payabie 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 $20,000 will be made in October. Bridgeport's regular quarterty dividend of $6,000 is expected to be declared in October and paid in November. Management desires to maintain a minimum cash bolance of $48,000. Requitred: 1. Prepare a monthly cash budget and supporting scheduies 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 \begin{tabular}{|c|c|c|c|} \hline Une Item Description & September & October & November \\ \hline \multicolumn{4}{|l|}{ Estimated cash receipts from: } \\ \hline Cash sales & $12,800 & 16,500 & $21,200 \\ \hline Collection of accounts receivable & 109,000 & 114,240 & 138,510 \\ \hline Total cash recelpts & $121,800 & $130,740 & 159,710 \\ \hline \multicolumn{4}{|l|}{ Less estimated cash payments for: } \\ \hline Manufacturing costs & $ & $ & $ \\ \hline Selling and odministrative expenses & 45,000 & 50,000 & 81,000 \\ \hline Capital expenditures & & & 51,000 \\ \hline \multicolumn{4}{|l|}{ Other purposes: } \\ \hline Income tax & & 20,000 & \\ \hline Dividends & & & 6,000 \\ \hline Total cash payments & $ & $ & $ \\ \hline Cash increase or (decrease) & $ & $ & \\ \hline Plus cash balance at beginning of month & 49,000 & & \\ \hline Cash balance at end of month & $ & $ & $ \\ \hline Plus minimum cash batance & 48,000 & 48,000 & 48,000 \\ \hline Excess or (deficlency) & s & $ & $ \\ \hline \end{tabular} Schedule of cash collections of accounts receivabie OrnceMart Inc, has "cash and carry" customers and credit customers, OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers, Of the credit customers, 25% pay thair accounts in the month of sale, while the remaining 75% pay their accounts if the month following the month of sale. Projected sales for the next three months are as follows: The Accounts Receivable balance on September 30 was $88,000. Prepare a schedule of cash collections from sotes for October, November, and December, Round all calculations to the nearest whole dollar. Feedback T Check My Wodk Or the sales on account, note the percentages or the totol that are expected to be collected in the month of the sale and in each of the next two months