m/lm/takeAssignment/takeAssignmentMain.do?invokersassignments&ttakeAssignmer ocator assignment-take&inprogress false dgeting eBook Show Me How Cash Budget The controller of D ash Shoes tnc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information MarchAprilMay $93,000 $110,000 158,000 39,000 47,000 57,000 30,000 Sales Manufacturing costs Selling and administrative expenses Capital expenditures 27,000 35,000 38,000 The company expects to sell about too, o its merchandise for cash or sales on account, 70%, are expected to be collected in the month foll ng the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $10,000 of the estimated monthly manufacturing costs.The annual insurance premium s pad in Ju y, and the annual property taxes are paid in November of the remainder af the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month current assets as of March 1 include cash of $35,000, marketable securities of $50,000, and accounts receivable of $103,200 ($81,000 from February sales and $22.200 rom anuarn'al-Isle, na ccount br lanuary and-bruary se ir r, oo ar..is) 1 000, respectively. Current la bil ties as of March 1 include a s 47 000. 12% dav note payable due May 20 and $10,000 of accounts payable incurred in February for manufacturing costs. All selling and administrative expenses are paid in cash in the perlod they are incurred. It is expected that $2,800 in dividends will be received in March. An estimated income tax payment of $13,000 will be made in April. Dash Shoe regular quarterly dividend of $10,000 is expected to be declared in April and paid in May. Management desire to maintain a minimum cash balance of $27,00