Jessica Inc. provides you with the following budgeted information for two months in year 2019: Sales...

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Jessica Inc. provides you with the following budgeted information for two months in year 2019: Sales Manufacturing Costs March April $515,000 $730,000 160,000 330,000 Capital Expenditures* 120,000 50,000 General and Administration Costs (including amortization) 65,000 120,000 *includes training programs, machines and buildings Expectations: Cash sales represent 15% of total sales All sales on account are collected in the following month 60% of March's $120,000 worth of capital expenditures is to be paid at the end of March. The remainder is to be paid in the following month. April's capital expenditure will be paid in May. Monthly amortization represents 15% of general and administration costs Manufacturing costs and general and administration costs are to be paid in the month in which they are incurred Dividends of $8,000 are expected to be declared in March and paid in April Jessica Inc. obtains the minimum financing needed to ensure at least a $5,000 cash balance at the end of the month through a bank loan. Assume that any amount taken out of the bank loan may be repaid only at year end. As of March 1 Cash Accounts Receivable* Inventory Long-Term Assets Accumulated Depreciation Accounts Payable Dividends Payable (in March) Notes Payable Stockholder's Equity $19,000 192,000 110,000 110,000 5,000 8,000 2,000 265,000 111,000 *Comprised only of sales on account incurred in February Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Prepare a cash budget for March and April. Jessica Inc. Cash Budget for March and April March Opening Cash Balance $ 19000 Receipts: Cash from sales $ 77250 Collection from customers $ 192000 Total cash available $ 288250 Disbursements: Manufacturing costs $ 160000 General and admin. costs $ 55250 Capital Expenditures $ 72000 Dividend Payment $ Total Cash Payments Cash Excess (Deficit) Financing Requirements: Notes Payable Loan Repayment Ending Cash Balance Check April A +A +A A EA +A +A +A +A Jessica Inc. provides you with the following budgeted information for two months in year 2019: Sales Manufacturing Costs March April $515,000 $730,000 160,000 330,000 Capital Expenditures* 120,000 50,000 General and Administration Costs (including amortization) 65,000 120,000 *includes training programs, machines and buildings Expectations: Cash sales represent 15% of total sales All sales on account are collected in the following month 60% of March's $120,000 worth of capital expenditures is to be paid at the end of March. The remainder is to be paid in the following month. April's capital expenditure will be paid in May. Monthly amortization represents 15% of general and administration costs Manufacturing costs and general and administration costs are to be paid in the month in which they are incurred Dividends of $8,000 are expected to be declared in March and paid in April Jessica Inc. obtains the minimum financing needed to ensure at least a $5,000 cash balance at the end of the month through a bank loan. Assume that any amount taken out of the bank loan may be repaid only at year end. As of March 1 Cash Accounts Receivable* Inventory Long-Term Assets Accumulated Depreciation Accounts Payable Dividends Payable (in March) Notes Payable Stockholder's Equity $19,000 192,000 110,000 110,000 5,000 8,000 2,000 265,000 111,000 *Comprised only of sales on account incurred in February Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Prepare a cash budget for March and April. Jessica Inc. Cash Budget for March and April March Opening Cash Balance $ 19000 Receipts: Cash from sales $ 77250 Collection from customers $ 192000 Total cash available $ 288250 Disbursements: Manufacturing costs $ 160000 General and admin. costs $ 55250 Capital Expenditures $ 72000 Dividend Payment $ Total Cash Payments Cash Excess (Deficit) Financing Requirements: Notes Payable Loan Repayment Ending Cash Balance Check April A +A +A A EA +A +A +A +A