Show all work: Preparing separate schedules for expected collections from customers and expected payments for purchases of inventory.

andPreparing a cash budget for the months of March and April. Info in pic, spreadsheet pic just for reference of layout I'm going to use. Need all work/ calculations shown

x Company has budgeted sales revenues as follows: Credit sales January 52 50,000 February $420,000 March $510,000 April sazdooo Past experience indicates that T056 of the credit sales will be collected in the month of sale, 22 92% will be collected in the first month following the sale and the remaining 3% will be collected in the following month. Purchases of inventory are all on credit and 30% are paid in the month of purchase and 1036 in the month following purchase. Budgeted inyentory purchases are: Febru a ry $300,000 M a rch 52 50,000 April $105,000 Other cash disbursements budgeted: [aiselling and administrative expenses of $45,000 each month, [b] diyidends of $35,000 will be paid in March, and [c] purchase of investments in April for $25,000 cash. The company wishes to maintain a minimum cash balance of $00,000 at the end of each month. The company borrows money from the bank at T96 interest if necessary to maintain the minimum cash balance. Borrowed money is repaid in months when there is an excess cash balance. The beginning cash balance on March 1 was $50,000. Assume that borrowed money in this case is for one month [ignore interest]. Instructions [a] Prepare separate schedules for expected collections from customers and expected payments for purchases of inventory. [b] Prepare a cash budget for the months of March and April. SHOW ALL COMPUTATI ONE OR NO CREDIT GIVEN a An\" '1 EXIECtEd collections from customers 2 EXIECtEd Ia ments for invento 3: Corn pa ny Cash Budget For the Two Months Endin A ril 3E] : March AIriI