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Question: Sanders Ltd. has requested a cash budget for March. The following information was provided: 1. Cash balance on March 1 is $3,500. 2. Actual sales for January, February, and March are as follows: Cash sales Credit sales Total Sales January February $12,000 $15,000 24,000 30,000 $36,000 $45,000 March $19,000 32,000 $51,000 3. Credit sales are collected as follows: 55 percent in the month of sale, 30 percent in the second month, and 10 percent in the third month. The remaining sales are uncollectible. 4. Inventory purchases are 60 percent of total monthly sales. Purchases are paid 65 percent in the month of purchase and the remaining 35 percent are paid in the following month. 5. Operating expenses for the month are $6,500, including $1,000 for depreciation. 6. Monthly salaries and owner's withdrawals $2,500. 7. Monthly rent of $1,700. Required: Prepare a cash collections and cash payment schedule as well as a cash budget for the month of March. Total cash sales and collections on account for the month are $ A Total cash available for the month is $ A Payments for purchases during the month are $ A/ Payments for other expenses during the month are $ A/ The ending cash balance for the month is $. A