Requirement 4 prepare the cash budget for January and February 2024. assume no financing took place Ruler Company's budget committee provides the following information: (Click

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Requirement 4 prepare the cash budget for January and February 2024. assume no financing took place

Ruler Company's budget committee provides the following information: (Click the icon to view the information.) Read the requirements. Requirement 4. Prepare the cash budget for January and February 2024. Assume no financing took p Ruler Company Cash Budget Two Months Ended February 28, 2024 January February Beginning cash balance Cash receipts from customers Cash available Cash payments: Purchases of merchandise inventory Help me solve this Tyng hors Etext pages 35000 Calculator Ruler Company's budget committee provides the following information: (Click the icon to view the information.) Read the requirements. January Beginning cash balance Cash receipts from customers Cash available Cash payments: Purchases of merchandise inventory Selling and administrative expenses Payments for income taxes Total cash payments Ending cash balance Help me solve this Etext pages Type here to search 35000 Calculator 100: February Requirements 1. Prepare the schedule of cash receipts from customers for January and February 2024. Assume cash receipts are 80% in the month of the sale and 20% in the month following the sale. 2. Prepare the schedule of cash payments for purchases for January and February 2024. Assume purchases are paid 30% in the month of purchase and 70% in the month following the purchase. 3. Prepare the schedule of cash payments for selling and administrative expenses for January and February 2024. Assume 40% of the accrual for Salaries and Commissions Payable is for commissions and 60% is for salaries. The December 31 balance will be paid in January. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. 4. Prepare the cash budget for January and February 2024. Assume no financing took place.. Print Done Coloulotor - X December 31, 2023, account balances: Cash Accounts Receivable Merchandise Inventory Accounts Payable Salaries and Commissions Payable Budgeted amounts for 2024: Sales, all on account Purchases, all on account Commissions Expense Salaries Expense Rent Expense Print $ January 85,000 $ 41,000 4,250 $3,000 1,800 Done $ 35,000 20,000 21,000 15,500 2,650 February 85,300 41,100 4,265 3,000 1,800 Data table Merchandise Inventory Accounts Payable Salaries and Commissions Payable Budgeted amounts for 2024: Sales, all on account Purchases, all on account Commissions Expense Salaries Expense Rent Expense Depreciation Expense Insurance Expense Income Tax Expense Print January $ 85,000 $ 41,000 4,250 3,000 1,800 300 200 2,200 Done 21,000 15,500 2,650 February 85,300 41,100 4,265 3,000 1,800 300 200 2,200