The part I am posting is requirement 3. I just need requirement 3 & requirement 4. The cash budget sheet required on requirement 4 is not being displayed yet because I havent completed requirement 3. Thank you!

Requirements Paperclip Company's budget committee provides the following information Click the koon to view the information) Read the olemento Paperclip Company Budgetod Cash Payments for selling and Administrative Expenses Two Months Ended February 28, 2024 January February Variable expenses 40% of last month's Commission Expense 60% of current month's Commission Expense Total payments for variable expenses Fixed expenses 40% of last month's Salaries Expanse 60% of current month's Salaries Expense 1. Prepare the schedule of cash receipts from customers for January and February 2024. Assume cash receipts are 70% in the month of the sale and 30% 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 60% in the month incurred and 40% 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 Rent exponse Total payments for fixed expenses Print Done Total payments for S and A expenses i Data Table X December 31, 2023, account balances: Cash $ 20,000 12,000 21,000 12,500 2,650 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 Depreciation Expense Insurance Expense Income Tax Expense January February $ 85,000 $ 85,300 40,200 41,300 4,250 4,265 4,500 4,500 2,000 2,000 400 400 200 200 2,200 2,200 Print Done Requirements Paperclip Company's budget committee provides the following information Click the koon to view the information) Read the olemento Paperclip Company Budgetod Cash Payments for selling and Administrative Expenses Two Months Ended February 28, 2024 January February Variable expenses 40% of last month's Commission Expense 60% of current month's Commission Expense Total payments for variable expenses Fixed expenses 40% of last month's Salaries Expanse 60% of current month's Salaries Expense 1. Prepare the schedule of cash receipts from customers for January and February 2024. Assume cash receipts are 70% in the month of the sale and 30% 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 60% in the month incurred and 40% 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 Rent exponse Total payments for fixed expenses Print Done Total payments for S and A expenses i Data Table X December 31, 2023, account balances: Cash $ 20,000 12,000 21,000 12,500 2,650 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 Depreciation Expense Insurance Expense Income Tax Expense January February $ 85,000 $ 85,300 40,200 41,300 4,250 4,265 4,500 4,500 2,000 2,000 400 400 200 200 2,200 2,200 Print Done