This is the explanation for the following, I need the remaining of the following problems left blank, including the salary and sales expense

Munoz Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, year 1. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks. Required a. October sales are estimated to be $340,000, of which 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. c. The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $12,900. Assume that all purchases are made on account. Prepare an inventory purchases budget. d. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. Prepare a cash payments budget for inventory purchases. e. Budgeted selling and administrative expenses per month follow. Salary expense (fixed) Sales commissions Supplies expense Utilities (fixed) Depreciation on store fixtures (fixed)* Rent (fixed) Miscellaneous (fixed) $18,900 4% of Sales 2% of Sales $ 2,300 $ 4,900 $ 5,700 $ 2,100 *The capital expenditures budget indicates that Munoz will spend $146,600 on October 1 for store fixtures, which are expected to have a $29,000 salvage value and a two-year (24-month) useful life. Use this information to prepare a selling and administrative expenses budget. f. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. g. Munoz borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent. the company desires to maintain a $21.000 cash cushion. Prepare a cash budaet. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F. Required G Required H Required I Required ] Prepare a selling and administrative expenses budget. December $ 18,900 October November Selling and Administrative Expense Budget Salary expense $ 18,900 $ 18,900 Sales commissions 0X Supplies expense 0 Utilities 2,300 2,300 Depreciation on store fixtures 4,900 4,900 Rent 5,700 5,700 Miscellaneous 2,100 2,100 Total S&A expenses $ 33,900 $ 33,900 2,300 4,900 5,700 2,100 33,900 $ Munoz borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $21,000 cash cushion. Prepare a cash budget. (Any repayments should be indicated with a minus sign.) Show less A Cash Budget October November December $ 0 136,000 367,200 367,200 440,640 440,640 136,000 Section 1: Cash Receipts Beginning cash balance Add: Cash receipts Total cash available Section 2: Cash Payments For inventory purchases Purchase of store fixtures Interest expense For selling and administrative expenses 296,453 0 206,584 146,600 18,900 X 0 x 290,060 0 18,900 16,320 18,900 X 13,600 X 0 6,800 X 8,160 372,084 335,753 333,440 Total budgeted disbursements Section 3: Financing Activities Surplus (shortage) Borrowing (repayment) Ending cash balance (236,084) 31,447 107,200 $ (236,084) $ 31,447 107,200 Prepare a pro forma balance sheet at the end of the quarter. (Amounts to be deducted should be indicated by a minus sign.) MUNOZ COMPANY Pro Forma Balance Sheet December 31, Year 1 Assets 0 Total assets $ 0 Liabilities Equity Total liabilities and equity $ 0 complete this question by entering your answers in the caps delow. Required A Required B Required C Required D Required E Required F. Required G Required H Required I Required ] Prepare a pro forma statement of cash flows for the quarter. (Cash outflows should be indicated with a minus sign.) MUNOZ COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, Year 1 Cash flows from operating activities 0 Net cash flows from operating activities Cash flows from investing activities Cash flow from financing activities