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More info Data table a. Capital expenditures include $37,000 for new manulacturing equipment to be purchased and paid in the first quarter. b. Cash receipts are 85% of sales in the quarter of the sale and 15% in the quarter following the sale. c. Direct materials purchases are paid 60% in the quarter purchased and 40% in the next quarter: d. Direct labor, manufacturing overhead, and selling and adminigtrative costs are paid in the quarter incurred. e. Income tax expense for the first quarter is projected at $46,000 and is paid in the quarter incurted. 1. Vinson Company expects to have adequato cash funds and does not anticipate borrowing in the first quarter. g. The December 31, 2023, balance in Cash is $15,000, in Accounts Recelvable is $23,200, and in Accounts Payable is $12,800. schedule of cash payments for the first quarter of 2024. Vinson Company has provided the following budget information for the first quarter of 2024: Requirement 1. Prepare Vinson Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. Begin by preparing the schedule of cash receipts from customers for the first quarter of 2024. Vinson Company has provided the following budget information for the first quarter of 2024: Prepare the schedule of cash payments for the first quarter of 2024. Vinson Company has provided the following budget information for the first quarter of 2024: Vinson Company has provided the following budget information for the first quarter of 2024: 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 you prepared in Requirement 1