A S&P Enterprises needs a cash budget for March. The following information is available. 1 2 3 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales 8 9 10 11 12 13 14 15 16 17 18 19 20 Total budgeted selling & administrative expenses in March (including depreciation) 21 Budgeted depreciation in March (included in total selling and admin exp) 22 23 24 25 26 27 28 29 30 March 1 interest due 31 32 33 34 35 36 37 38 39 40 41 42 43 Accounts Receivable Collections: Month of sale Month following sale Second month following sale Uncollectible Data Accounts payable for inventory purchases, March 1 balance Budgeted inventory purchases in March Inventory payments: Month of purchase Month following purchase Other budgeted cash disbursements in March Equipment purchases Dividends to be paid Minimum cash balance to be maintained March 1 cash balance March 1 outstanding borrowings The company has a line of credit available to bolster the cash balance as needed. Required: Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March. B January (Use cells A4 to B31 from the given information to complete this question.) $1,600 25,000 $26,600 15% 60% 22% 3% $10,500 $23,500 60% 40% $12,500 $3,200 $14,000 $2,000 $10,000 $11,500 $0 $0 C February $3,750 30,000 $33,750 D March When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. $5,100 40,000 $45,100 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month.