Help please.. **S&P Enterprises: Cash Budget for March**### OverviewS&P Enterprises needs to prepare a cash budget for March using the provided data.### Monthly Sales Data| **Data** | **January** | **February** | **March** ||-----------------------------|-------------|--------------|-----------|| Cash sales | $1,600 | $3,750 | $5,100 || Sales on account | 25,000 | 30,000 | 40,000 || **Total Sales** | $26,600 | $33,750 | $45,100 |### Accounts Receivable Collections- **Month of sale:** 15%- **Month following sale:** 60%- **Second month following sale:** 22%- **Uncollectible:** 3%### Accounts Payable and Inventory Purchases- **Accounts payable for inventory purchases, March 1 balance:** $10,500- **Budgeted inventory purchases in March:** $23,500### Inventory Payments- **Month of purchase:** 60%- **Month following purchase:** 40%### Expenses and Other Disbursements- **Total budgeted selling & administrative expenses in March (including depreciation):** $12,500- **Budgeted depreciation in March:** $3,200- **Equipment purchases:** $14,000- **Dividends to be paid:** $2,000### Cash Balance Requirements- **Minimum cash balance to be maintained:** $10,000- **March 1 cash balance:** $11,500- **March 1 outstanding borrowings:** $0- **March 1 interest due:** $0### Additional Information- The company has a line of credit to bolster the cash balance as needed.- When preparing budgets, separate data sheets for actual budgets and schedules are used.### Required Tasks1. **Schedule of Expected Cash Collections for March**2. **Schedule of Expected Cash Disbursements for Inventory Purchases for March**3. **Cash Budget for March** - Indicate any borrowing needed, assuming interest will not be paid until the following month.>Please use cells A4 to B31 from the provided information to complete these tasks.

Budgeting is a method of estimating expected future outcomes based on past events. Budgeting schedules for sales, collections, purchases and payments are estimated based on past performance.This helps the organization to plan the cash budget and financials for later periods.Companies can put restrictions on certain expenses to avoid over-budgeting.Utilizing it companies can make borrowing decisions.Working Notes JanuaryFebruaryMarchCash Sales $ 1,600 $ 3,750 $ 5,100Credit Sales $ 25,000 $ 30,000 $ 40,000Total Sales $ 26,600 $ 33,750 $ 45,100Credit Collection:Month of Sale15% $ 3,750 $ 4,500 $ 6,000Month Following Sale60% $ 15,000 $ 18,000The second month following the sale22% $ 5,500Uncollectible3% $ 750 $ 900 $ 1,200Accounts Payable, March 1 $ 10,500Purchases $ 23,500Inventory Payments:Month of Purchase60% $ 14,100Month Following Purchases40% $ 10,500Total Budgeted Selling and Administrative Expenses $ 12,500Budgeted Selling and Administrative Depreciation $ 3,200Other Cash Disbursement:Equipment purchases $ 14,000dividend $ 2,0001a. Expected Cash Collections -Expected Cash Collections:March Cash Collections $ 5,100March Collection on Account:January Sales $ 5,500February Sales $ 18,000March Sales $ 6,000Total Cash Collection $ 34,6002a. Payment to Suppliers -Payment to Suppliers:Accounts Payable for Inventory Purchases, Beginning Balance $ 10,500March Purchases $ 14,100Total Cash Payments $ 24,6003a. Cash Budget -S & P EnterprisesCash BudgetFor the Month of MarchCash Balance, March 1 $ 11,500Add: Cash Receipt:Collection from Customers $ 34,600Total Cash Available Before Current Financing $ 46,100Less: Disbursements:Payments to Suppliers $ 24,600Selling and Administrative Expenses ($12,500 - $3,200) $ 9,300Equipment Purchases $ 14,000Dividend Paid $ 2,000Total Disbursements $ 49,900Excess (Deficiency) of Cash Available over disbursements $ (3,800)Financing:Borrowings $ 13,800Repayments $ - Interest $ - Total Financing $ 13,800Cash Balance, March 31 $ 10,000