Please help quickly. Ill give an upvote just really really need help on this problem fast. ASAP!!

John's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements

Requirements

1.

Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month and totals for January and February

combined.

2.

Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28?

John's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements (Click the icon to view the information) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses Show totals for each month and totals for January and February combined 2. Prepare a combined cash budget If no financing activity takes place, what is the budgeted cash balance on February 207 CED Requirement 1a. Prepare a schedule of budgeted cash collections for January and February Show totais for each month and totals for January and February combined John's Restaurant Supply Cash Collections Budget For the Months Ended January 31 and February 28 January February Total Cash sales 135.400 Collection on credit sales Total cash collections 41,400 76.806) a. Sales are 60% cash and 40% credit. Credit sales are collected 10% in the month of sale and the remainder in the month after sale. Actual sales in December were $55,000. Schedules of budgeted sales for the two months of the upcoming year are as follows: Budgeted Sales Revenue January. $ 59,000 February. ....... S 69,000 b. Actual purchases of direct materials in December were $23,000. The company's purchases of direct materials in January are budgeted to be $22,500 and $27,000 in February. All purchases are paid 40% in the month of purchase and 60% the following month. c. Salaries and sales commissions are also paid half in the month earned and half the next month. Actual salaries were $7,500 in December. Budgeted salaries in January are $8,500 and February budgeted salaries are $10,000. Sales commissions each month are 8% of that month's sales. d. Rent expense is $3,000 per month. e. Depreciation is $2,400 per month. f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $12,500. a. The cash balance at the end of the prior vear was $24.000 Print Done e. Depreciation is $2,400 per month. f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $12,500. g. The cash balance at the end of the prior year was $24,000