The treasurer of Unisyms Company has accumulated the following budget information for the rst two months of the coming year: Piarch AIL\" Sales $450,000 $520,000 Manufacturing costs 290,000 350,000 Selling and administrative expenses 41,400 46,400 Capital additions 250,000 -- The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are expected to be collected in full in the month of the sale and the remainder in the month following the sale. Onefourth of the manufacturing costs are expected to be paid in the month in which they are incurred and the other three-fourths in the following month. Depreciation, insurance, and property taxes represent $6,400 of the probable monthly selling and administrative expenses. Insurance is paid in February, and a $40,000 installment on income taxes is expected to be paid in April. Ofthe remainder of the selling and administrative expenses, one-half are expected to be paid in the month in which they are incurred, with the balance paid in the following month. Capital additions of $250,000 are expected to be paid in March. Current assets as of March 1 are composed of cash of $45,000 and accounts receivable of $51,000. Current liabilities as of March 1 are composed of accounts payable of $121,500 [$102,000 for materials purchases and $19,500 for operating expenses). Management desires to maintain a minimum cash balance of $20,000. Prepare a monthly cash budget for March and April. Unisyms Company Cash Budget For the Two Months Ending April 30, 20Xx March April Estimated cash receipts from: Cash sales X X Collections of accounts receivable X X Total cash receipts X 49- X Estimated cash payments for: Manufacturing costs V X Selling and administrative expenses V X X X X Capital additions Income taxes X 090 00 Total cash payments X X Cash increase (decrease) V X X Cash balance at beginning of month V X X Cash balance at end of month X X Minimum cash balance X X Excess (deficiency) X X