The following data were collected from Hope Co. to assist in the preparation of a cash budget for the quarter fourth of 2020. 1. Sales projections and direct material purchase projections.

2. Every month, 25% of sales are cash and the rest is on credit. Sales billing pattern credit is 50% in the month of sale, 30% in the following month, and 18% in the second month after sale. The company records bad debt expense every month. 3. The company purchases materials directly on credit. The purchase price per kg is $4. Company pay 60% of the debt in the month of purchase and get a 2.5% discount. The rest is paid in the following month. 4. Conversion cost is $21,100, including: - Prepaid insurance, expires quarterly $2,400. - Monthly depreciation of plant, property, and equipment $1,100. 5. Operating expense is $10,871. 6. The company borrowed $64,000 from the bank since January 1, 2018. The term of the loan is 5 year. The annual interest rate is 10%. The company pays interest every quarter. 7. On December 1, new equipment will be purchased for $654. 8. Income tax is $4,224 and will be paid at the end of the fourth quarter. 9. The cash balance as of September 30 was $14,075.

QUESTION:

Prepare a cash budget for the fourth quarter of 2020. Provide a detailed supporting schedule cash receipts from sales and cash payments for direct materials purchases. Note:

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\begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ Bulan } & Sales (in dollar amount) & Purchase (in kgs) \\ \hline Agustus & 20,400 & 3,550 \\ September & 22,200 & 3,600 \\ Oktober & 24,000 & 3,750 \\ November & 25,000 & 4,000 \\ Desember & 27,600 & 4,050 \\ \hline \end{tabular}