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. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.

(Need formulas please)

S&P Enterprises needs a cash budget for March. The following information is available. 3 Data 4 Actual January and February and expected March sales: 5 Cash sales Janwary ebruary March 6 Sales on account 7 Total Sales s 1,600 $ 3,750 $ 5,100 25000 30,00040,000 S 26,600 33,750 45.100 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 15% 12 Second month following sale 13 Uncollectible 22% $10,500 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 $23,500 40% 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 $3,200 24 Other hudoetod cash dichnrcements in March Budget Data Schedules and Cash Budget + 100 Attempt(s)