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5.4 Connect: Cases and Problems Assignment i Saved Help Save & Exit Submit Comment Show Ink Proofing Language Comments 20 Al X S&P Enterprises needs a cash budget for March. The following information is B C D E S&P Enterprises needs a cash budget for March. The following information is available. 5 2 3 points Data January February March 4 Actual January and February and expected March sales: Skipped Cash sales $ 1,600 $ 3,750 $ 5,100 Sales on account 25,000 30.000 40,000 7 Total Sales $ 26.600 $ 33.750 $ 45,100 eBook Print Accounts Receivable Collections: 10 References Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 15 Accounts payable for inventory purchases, March 1 balance $10,500 16 Budgeted inventory purchases in March $23,500 17 Inventory payments: 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12,500 22 Budgeted selling & administrative depreciation in March $3,200 23 24 Other hudasted nach dichureamente in March Budget Data Schedules and Cash Budget READY + 100% Attempt(s) Hint5.4 Connect: Cases and Problems Assignment i Saved Help Save & Exit Submit Comment Show Ink Proofing Language Comments 20 Al X S&P Enterprises needs a cash budget for March. The following information is A B C D E 18 Month of purchase 60% 19 40% 5 Month following purchase 20 points 21 Total budgeted selling & administrative expenses in March $12,500 Skipped 22 Budgeted selling & administrative depreciation in March $3,200 23 24 Other budgeted cash disbursements in March eBook 25 Equipment purchases $14,000 $2,000 Print 26 Dividends to be paid 27 References 28 Minimum cash balance to be maintained $10,000 29 March 1 cash balance $11,500 30 March 1 outstanding borrowings 31 March 1 interest due $0 32 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 36 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 39 2. Schedule of expected cash disbursements for inventory purchases for March. 40 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that 41 any interest will not be paid until the following month. Budget Data Schedules and Cash Budget READY 100% Attempt(s) Hint5.4 Connect: Cases and Problems Assignment i Saved Help Save & Exit Submit Comment Show Ink Proofing Language Comments 20 B2 X V A B C D E 1 Expected cash collections: 5 2 March cash collections points 3 March collections on account: January sales Skipped February sales March sales 7 Total cash collections eBook Print 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance References 11 March purchases 12 Total cash payments 13 14 S&P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses Budget Data Schedules and Cash Budget + 1 READY + 100%Saved Submit 5.4 Connect: Cases and Problems Assignment i Help Save & Exit Comment Show Ink Proofing Language Comments 20 B2 X V v A B C D E 11 March purchases 5 12 Total cash payments 13 points 14 S&P Enterprises Skipped 15 Cash Budget 16 For the Month of March 17 eBook 18 Cash balance, March 1 Print 19 Add cash receipts: Collections from customers References 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Cash balance before financing 29 Financing: 30 Borrowings/Repayments 31 Cash balance, March 31 32 33 34 Budget Data Schedules and Cash Budget ...+ . 100% READY