Prepare a sales budget, including a schedule of expected cash collections

5 ? x X H FILE Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW - Sign In HOME Paste B I U . 23 - A Alignment Number Editing Conditional Format as Cell Formatting Table Styles Styles Cells - Clipboard Font C10 E B C D 1 S&P Enterprises needs a cash budget for March. The following information is available. January February March 3 Data 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales $ 1,600 $ 3,750 $ 5,100 25,000 30,000 40,000 $26.600 $33.750 $45.100 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 13 Uncollectible 15% 60% 22% 3% $10,500 $23,500 60% 40% 15 Accounts payable for inventory purchases, March 1 balance 16 Budgeted inventory purchases in March 17 Inventory payments: Month of purchase Month following purchase 20 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March 23 24 Other budgeted cash disbursements in March 25 Equipment purchases 26 Dividends to be paid $12,500 $3,200 $14,000 $2,000 $10,000 $11,500 $0 28 Minimum cash balance to be maintained 29 March 1 cash balance 30 March 1 outstanding borrowings 31 March 1 interest due 32 ... Budget Data $0 Schedules and Cash Budget ... + READY @ D + + 10% ? X Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW - 5 Sign In HOME Calibri XU 5 FILE 0 Paste Clipboard 010 Calibri 11 A A 3 % z # B IV . 2 - A Alignment Number Cells Cells Editing Conditional Format as Cell Formatting Table Styles Styles Font H $10,500 $23,500 15 Accounts payable for inventory purchases, March 1 balance 16 Budgeted inventory purchases in March 17 Inventory payments: 18 Month of purchase 19 Month following purchase 60% 40% 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 $3,200 24 Other budgeted cash disbursements in March 25 Equipment purchases 26 Dividends to be paid $14,000 $2,000 28 Minimum cash balance to be maintained 29 March 1 cash balance 30 March 1 outstanding borrowings 31 March 1 interest due $10,000 $11,500 $0 $0 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedu 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March 39 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume 41 any interest will not be paid until the following month. ... Budget Data Schedules and Cash Budget ... 11 READY @ D H + + 10%