S & P Enterprises needs a cash budget for March. The following information is available 3 Data 4Actual January 5 Cash sales 6 Sales on account 7 Total Sales March JanuaryFebrua and February and expected March sales $ 1,600 $ 3,750 S 5,100 30 25 40 9 Accounts Receivable Collections: 10 Month of sale 11M 12 Second month following sale 13Uncollectible 14 15 A 15% 60% 22% 3% onth following sale $10,500 $23,500 ccounts payable for inventory purch ases, March 1 balance Budgeted inventory purchases in March 17 Inventory payments 18 Month of purchase 19Month following purchase 60% 40% s The company has a l bolster the cash balance s eded 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. 392. Schedule of expected cash disbursements for inventory purchases for March. 03. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that 11 any interest will not be paid until the following month. 42 14 15 16 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23Payments to suppliers 24Selling and administrative expenses S & P Enterprises Cash Budget For the Month of March Equipment purchases 26 Dividends paid 27 Total disbursements 28 Preliminary cash balance 29 Financing 30 Additional loan 31 Loan repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35