Vinson Company has provised the following budget information for the first quarter of 2024 : Additional data related to the first quatter of 2024 for Vinson Company: (Cick the icon to vew the budget information). (Cick the icon to view the data.) Read the cecuirements. Requirement 1. Prepare Vinson Company's schedule of cash recepts from custemers and schedule of cash payments for the fint quarter of 2024. Begin by preparing the schedule of cash receipts from customers for the frit quarter of 2024. Cash Recelpts from Customers Data table Prepare the schedule of cash payments for the fest quarter of 2024 . Prepare the schedule of cash payments for the first quarter of 2024. More info a. Capital expendesmes include \$45,000 for new marufacturing equipment to to purchased and paid in the firat quarter. b. Cash rocoipts are 65% of sales in the quarter of the sale and 35% in the quarter folowing the saie. c. Diect materials purchases are paid 50 h. in the quarter purchased and 40% in the next quarfer. d. Direct labor, manufactuting crerhes ad, and selling and administrative costs aro paid in the quater incutred e. Income tax expente for the firat cuarter is projected at 543,000 and is paid in Ben quarter incurted 1. Yifisan Company especta to have adequale cash funds and does not anticipate botrowing in the first quarter 0. The December 31, 2023, balance in Cash ia 530,000 , in Accounts Receivable is 520,200, and in Accounts Payatie is $11,600. Requirement 2. Prepare Vinson Company's cash budget for the first quarter of 2024. Review the schedule of cash receipts from customers you prepared in Requirement 1. Review the schedule of cash payments vou prepared in Requirement 1