Please help me with the functions needed to input to get the correct information in the highlighted areas. Thank you! A1 S&P Enterprises needs a cash budget for March. The following information is available.234567DataActual January and February and expected March sales:Cash salesSales on accountTotal Sales89 Accounts Receivable Collections:10Month of sale11Month following sale12Second month following sale13Uncollectible14 Accounts payable for inventory purchases, March 1 balance15 Budgeted inventory purchases in March16 Inventory payments:17Month of purchase18Month following purchase1920 Total budgeted selling & administrative expenses in March (including depreciation)21 Budgeted depreciation in March (included in total selling and admin exp)2223 Other budgeted cash disbursements in MarchBJanuary$1,60025,000$26,60015%60%22%3%$10,500$23,50060%40%$12,500$3,200сFebruary$3,75030,000$33,750DMarch$5,10040,000$45,100E 24Equipment purchases25 Dividends to be paid2627 Minimum cash balance to be maintained28 March 1 cash balance29 March 1 outstanding borrowings30 March 1 interest due3132 The company has a line of credit available to bolster the cash balance as needed.33$14,000$2,000$10,000$11,500$0$034 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules.3536 Required:37 Click the Schedules and Cash Budget tab to prepare the following:381. Schedule of expected cash collections for March.392. Schedule of expected cash disbursements for inventory purchases for March.403. 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 followingmonth.414243 (Use cells A4 to B31 from the given information to complete this question.)4445

Budget is the estimation of revenue and expenses prior to starting the operation. To manage the…

S&P Enterprises needs a cash budget for March. The following information is available. Data Actual January and February and expected March sales: Cash sales Sales on account Total Sales Accounts Receivable Collections: Month of sale D 1 Month following sale 2 Second month following sale 3 Uncollectible 4 Accounts payable for inventory purchases, March 1 balance 5 Budgeted inventory purchases in March 5 Inventory payments: 7 Month of purchase B Month following purchase 9 O Total budgeted selling & administrative expenses in March (including depreciation) 1 Budgeted depreciation in March (included in total selling and admin exp) 2 January $1,600 25,000 $26,600 15% 60% 22% 3% $10,500 $23,500 60% 40% $12,500 $3,200 February $3,750 30,000 $33,750 March $5,100 40,000 $45,100

S&P Enterprises needs a cash budget for March. The following information is available. Data Actual January and February and expected March sales: Cash sales Sales on account Total Sales Accounts Receivable Collections: Month of sale D 1 Month following sale 2 Second month following sale 3 Uncollectible 4 Accounts payable for inventory purchases, March 1 balance 5 Budgeted inventory purchases in March 5 Inventory payments: 7 Month of purchase B Month following purchase 9 O Total budgeted selling & administrative expenses in March (including depreciation) 1 Budgeted depreciation in March (included in total selling and admin exp) 2 January $1,600 25,000 $26,600 15% 60% 22% 3% $10,500 $23,500 60% 40% $12,500 $3,200 February $3,750 30,000 $33,750 March $5,100 40,000 $45,100

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 6BE: Cash budget Pasadena Candle Inc. pays 40% of its purchases on account in the month of the purchase...

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