Please do not give solution in image format thanku Cash BudgetFor the Three Months Ending November 30Estimated cash receipts from:Cash salesCollection of accounts receivableTotal cash receiptsLess estimated cash payments for:Manufacturing costsSelling and administrative expensesCapital expendituresOther purposes:Income taxDividendsTotal cash paymentsCash increase or (decrease)Plus cash balance at beginning of monthCash balance at end of monthLess minimum cash balanceExcess or (deficiency)September October$November Cash BudgetThe controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information:September OctoberNovember$112,000 $139,000 $192,00047,000 60,000 69,000SalesManufacturing costsSelling and administrativeexpensesCapital expenditures39,000 42,00046,000The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second monthfollowing sale). Depreciation, insurance, and property tax expense represent $9,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes arepaid December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month.Current assets as of September 1 include cash of $43,000, marketable securities of $60,000, and accounts receivable of $125,000 ($98,000 from July sales and $27,000 from August sales). Sales on account for Julyand August were $90,000 and $98,000, respectively. Current liabilities as of September 1 include $9,000 of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses arepaid in cash in the period they are incurred. An estimated income tax payment of $17,000 will be made in October. Bridgeport's regular quarterly dividend of $9,000 is expected to be declared in October and paid inNovember. Management desires to maintain a minimum cash balance of $42,000.Required:73,0001. Prepare a monthly cash budget and supporting schedules for September, October, and November. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with aminus sign. Assume 360 days per year for interest calculations.Estimated cash receipts from:Cash sales✓Bridgeport Housewares Inc.Cash BudgetFor the Three Months Ending November 30Collection of accounts receivable✓September October November

A cash budget is created to determine the anticipated cash inflows as well as the anticipated cash…

Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November $112,000 $139,000 $192,000 47,000 60,000 69,000 Sales Manufacturing costs Selling and administrative expenses Capital expenditures 39,000 42,000 46,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $9,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes a paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. 73,000 Current assets as of September 1 include cash of $43,000, marketable securities of $60,000, and accounts receivable of $125,000 ($98,000 from July sales and $27,000 from August sales). Sales on account for July and August were $90,000 and $98,000, respectively. Current liabilities as of September 1 include $9,000 of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $17,000 will be made in October. Bridgeport's regular quarterly dividend of $9,000 is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of $42,000. Required: 1. Prepare a monthly cash budget and supporting schedules for September, October, and November. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign. Assume 360 days per year for interest calculations. Estimated cash receipts from: Cash sales ✓ Bridgeport Housewares Inc. Cash Budget For the Three Months Ending November 30 Collection of secounts cocobupala September October November