Prepare a cash budget for Terranova for the quarter ending in December 31 2020 show activity by month and in total ?

X UTF-8"Course project Student Solution(2).xls File Edit Insert Format Help Unsaved changes Calibri 11 @ @ B I Y $A F G H f Sept. purchases D E 8 9 Schedule of expected cash collections: 10 11 October November 12 Cash sales $54,600 $65,520 13 Credit sales 15,000 23,400 14 Total collections $69,600 $88,920 15 16 17 5.000* 310 30% December Quarter $81,900 $202,020 28,000 66,480 $109,980 $268,500 18 19 20 2 Merchandise purchases budget: 21 22 22 Budgeted cost of goods 24 Add desired ending 25 Total needs 26 Less beginning 27. Required purchases 28 20 10 October $46,800 50 $44.9280 91.728 36.000 355.728 November $56.160 50 $56.160.0 112.320 44.928 567.392 December Quarter $70.200 $173,160 $39.936.0 $39.936 110.136 213.096 56,160 $36.000 $$3.976 $177,096 1 For Oct sales $78.000 sales 60% cost ratio 546.800 2At Oct 31. 156.160 $59.904 33 "Given Schedule of expected cash disbursements-merchandise purchases Group Calibri 11 BI V $ f* Sept. purchases B H D E F G ZALUKI JI! 90, 100 X 300 , 32 33 34 Given 35 36 Schedule of expected cash disbursements-merchandise purchases 37 38 October November December Quarter 39 Sept. purchases $21,750 $21,750 40 October purchases 27,864 $27,864 $55,728 41 November purchases 33,696 $33,696 $67.392 42 December purchases 26,988 $26.988 Total disbursements $49,614 $61,560 $60,684 $171.858 45 * Given 46 47 3 Schedule of expected cash disbursements operating expenses April May June Quarter 49 Commissions 59,360 $11.232 $14,040 $34,632 50 Rent 2.500 2.500 2.500 $7.500 51 Other expenses $4,680 $5,616 $7,020 $17.316 52 Depreciation expense $900 $900 3900 $2,700 53 Total operating expenses $17.440 $0 $20.248 50 $24.460 $62.148 58 Less Depreciation Expens 5900 5900 $900 $2.700 55 Total disbursements $16.540 $19.348 $23.560 $59.448 57 58 Commissions 12N of sales Rent is fixed Other expenses of sales 60 Group C