S & P Enterprises needs a cash budget for March. The following information is available Januar Februa March Data Actual January and February and expected March sales Cash sales Sales on account Total Sales S 1,600 S3,750 S 5.100 30,00040,000 S 26,600 S 33750 S 45,100 25,000 Accounts Receivable Collections: Month of sale Month following sale Second month following sale Uncollectible 15% 60% 22% 3% Accounts payable for inventory purchases, March 1 balance Budgeted inventory purchases in March $10,500 $23,500 ments: Month of purchase Month following purchase 60% 40% Total budgeted selling & administrative expenses in March Budgeted selling & administrative depreciation in March $12,500 $3,200