Prepare a cash budget and determine the following:

(1) The amount of cash collected in January 2018, Cash Collected in February 2018, and Cash Collected in March 2018, and accounts receivable balance on January 31, February 28, and March 31, 2018.

(2) The Cash Balance at the end of January 2018, February 2018, and March 2018.

8. XYZ company started business on January 1, 2018; had a beginning cash balance of S50,000 on January 1, 2018, and provided the following additional budgetary information about Sales, Cash Collection, Purchases, cash payments, and cash payments for operating expenses for the months of January, February, and March 2018. 25% of sales is usually collected during the month of sales: 45% of the sales is collected in the month following the month of sale, while the balance is collected during the third month from the month of sale, 15% of purchases is usually paid during the month of purchase: 30% of purchases is usually paid in the month following the month of purchase while the balance is usually paid in the third month from the month of purchase. Operating expenses in the amounts of $6,000; $8,000; and $5,000 are paid during the months of January, February and March respectively Required Prepare a cash budget and determine the following () The amount of cash collected in January 2018, Cash Collected in February 2018, and Cash Collected in March 2018, and accounts receivable balance on January 31, February 28, and March 31, 2018 (2) The Cash Balance at the end of January 2018, February 2018, and March 2018 8. XYZ company started business on January 1, 2018; had a beginning cash balance of S50,000 on January 1, 2018, and provided the following additional budgetary information about Sales, Cash Collection, Purchases, cash payments, and cash payments for operating expenses for the months of January, February, and March 2018. 25% of sales is usually collected during the month of sales: 45% of the sales is collected in the month following the month of sale, while the balance is collected during the third month from the month of sale, 15% of purchases is usually paid during the month of purchase: 30% of purchases is usually paid in the month following the month of purchase while the balance is usually paid in the third month from the month of purchase. Operating expenses in the amounts of $6,000; $8,000; and $5,000 are paid during the months of January, February and March respectively Required Prepare a cash budget and determine the following () The amount of cash collected in January 2018, Cash Collected in February 2018, and Cash Collected in March 2018, and accounts receivable balance on January 31, February 28, and March 31, 2018 (2) The Cash Balance at the end of January 2018, February 2018, and March 2018