Please use this Reference data Exercise 5-3 for my previous question Exercise 5-4. I have provided the incorrect Reference data Exercise 5-2 with it. Please refer this one for my other question. Thanks

Exercise 5-3 Riverside, Inc. forecasts the following sales for the second quarter of 2015, as well as actual March sales: March (actual) $35,000 April $40,000 May $55,000 June $60,000 2nd Q. Total $155,000 In addition: a. The company makes 60% cash sales and 40% credit sales. b. It collects all credit sales in the month after the sale. C. The firm budgets $48,000 for monthly operating expenses (including $4,000 for depreciation). d. The firm pays one-half of its expenses in the month incurred, and the remaining 50% in the next month. (Riverside, Inc. had $26,000 of accounts payable at the end of March). Required: 2. Present the monthly and quarterly cash receipts budget for Riverside, Inc. in the template below. b. Present the monthly and quarterly cash payments budget for Riverside, Inc. in the template below. 1 April May June 2nd Q Cash sales Credit sales collected Cash receipts Current month's payments Payments from last month's purchases Cash payments Cash inflow (outflow)