Prepare a cash budget for the November, December, and January quarter

Brittney's Boutique Table 1: Performance and Budget Data Numbers Explanations Initial Investment: S30,000.00 s initial owner investment of her own into the business sits: 3,000.00 1,200.00 SOD.00 The lease deposit paid for in November when the 36-month lease agreement was signed at the beginning of November Utility deposit for electricity it for water and Asset Information: 15,000.00 3,000.00 10 years 3 years 12 months 15 Amount paid or furniture and fixtures and useful life (in years), respectively t of computer and useful life (in years), respctively Number of months in a year. The computer was financed interest-free over 12 months with 12 even monthly payments 35,000.00 t on leasehold s and the useful lifei ys), re Central National Bank loan information and borrowing terms: S 50,000.00 Amount borrowed from Central National Bank The total monthly loan payment to Central National Bank Yearly interest Number of periods in 1,013.82 0.67% rate and monthly interest rate, respectively s and month Monthly Sales and Cash Collections: 45,000.00 90,000.00 60,000.00 The gross sales received from customers for the months of November, December, and January, respectively 35% 65% 20% 50% The percentage of customers who pay using cash The percentage of customers who pay using credit cards The processing fee Brittney is charged on all credit card transactions. The processing fee is a variable cost. The of credit sales collected in the month of sale and in the month following the sale Cost of Goods Sold, Inve y Purchases, and Invento ments Information: 48% The percentage of monthly gross sales that is Cost of Goods Sold. Cost of Goods Sold is a variable cost Desired ending inventory for the current month is this percentage (1 e 75%) of following month's Cost of Goods Sold Sales for February are expected to be the same as January, February sales are 100% * January Sales. Percentage of inventory purchases that are paid for in the month of the purchase 100% of i that are paid for in the month the Other Operating Payments: 4,000.00 1,000.00 2.500.00 5,000.00 00.00 Monthly rent payment for the 36-month lease agreement. Ren is due on the first day of each month. Amount of supplies purchased and used in cach of the first 3 months of operations (paid foe at the time of purchase) 2,000.00 1,500.00 Amount spent on advertising in each of the first 3 months of operations: November, December and January, respectively of employee wages paid per month The amount of the monthly insurance payment 200.00 100.00 0.00 300.00 The amount of the monthly utilities payments for: water and garbage ($200/month), natural gas ($50/month), and electricity (300 month), respectively The for miseellaneous utilities and other items cach month Notice that you will need to prepare a Payment Schedule (amortization schedule) that divides the total monthly loan payment amount into the part that is interest expense and the other part that is a payment of some of the loan prineipal. Notice that all of the "Other Operating Payments represent fixed costs