S\&P Enterprises has provided data from the first three months of the year. The Controller has asked you to prepare the Cash Budget and the related Schedules for Expected cash collections and Payments to suppliers. The company has a line of credit avaliable to bolster the cash balance as needed. Required: Click the Schedules and Cash Budget tab to prepare the following: a. Schedule of expected cash collections for Morch b. Schedule of expected cash disbursements for inventory purchases for March. The company has a line of credit available to bolster the cash balance as needed. Required: Click the Schedules and Cash Budget tab to prepare the following: a. Schedule of expected cash collections fot March. b. Schedule of expected cash disbursements for inventory purchases for March. c. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month. Navigation: 1. Use the Open Excel in New Tab button to lounch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 B c D E: G S\&P Enterprises needs a cash budget for March. The following Information is available. Data Actual January and February and expected March sales: Cashsales 5ales on account Total Sales Accounts Receivable Collections: Month of sale Month following sale Second month following sale- Uncollectible Accounts payable for imventory purchases, March 1 balance Budgeted imventory purchases in March Inventory payments: Month of purchase Mooth following purchase Fotal budfeted selling 8 administrative expenses in March (including depreciation) $12,500 Budgeted depreciation in March (included in total selling and admin exp) $3,200 Other budgeted cash disbursements in March Equipment purchares Divinends to be paid $14,000$2,000 Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing secton any borrowing that wil be needed in March. Assume that any interest will not be paid untl the following month. Poyments to suppliers: Accounts payable for inventory purchases, beginning balance March purchases Total cash payments Cash balance, March 1 Add cash receipts: Collections from customers Total cash available Less disbursements: Payments to suppliers Selling and administrative expenses Equipment purchases Dividends paid Total disbursements Preliminary cash balance Financing: Additional loan Loan repayments Interest Total financing Cash balance, March 31
