Complete g cash budget table please and thank you **Educational Website Content: Accounting and Budgeting Concepts**---**Budget and Cash Management****Overview:**This document outlines the preparation of various budgets and the management of cash flows for a company named Munoz. The focus is on sales estimates, cost management, and strategic financial planning.**Sales Budget:**1. **October Sales Projection:** - Estimated at $340,000: - 40% cash sales - 60% credit sales - Sales are expected to grow at a rate of 20% per month.2. **Cash Collections:** - The company expects to collect 100% of accounts receivable from credit sales in the month following the sale.**Inventory and Purchase Budgets:**3. **Cost of Goods Sold (COGS):** - COGS is 70% of sales. - Desired ending inventory is 20% of next month's COGS. - Ending inventory for December is projected at $12,900. - Purchases are immediate; assume all transactions are made in cash.4. **Purchase Payments:** - 70% are paid in the month of purchase. - 30% are paid in the following month.**Selling and Administrative Expenses:**5. **Monthly Expenses:** - Salary (fixed): $18,900 - Sales Commissions: 1% of Sales - Supplies Expense: 2% of Sales - Utilities (fixed): $2,300 - Depreciation on Store Fixtures (fixed): $4,500 - Rent (fixed): $6,500 - Miscellaneous (fixed): $2,100 - Note: Capital Expenditure of $146,600 for store fixtures on October 1 with a $29,000 salvage value and a 2-year useful life.**Cash Payments and Loans:**6. **Expense Payments:** - Utilities and sales commissions paid the following month. - Other expenses paid in the month incurred.7. **Loan and Cash Management:** - Munoz takes loans in $1,000 increments, repayable at month's end. - Interest: 2% per month, paid on last day. - Goal: Maintain a $21,000 cash balance.**Interactive Exercise:**Participants are encouraged to complete the budget tables provided, focusing on careful cash flow management and

Budgeting is the process of estimating future operations based on past performance. % are estimated…

Required a. October sales are estimated to be $340,000, of which 40 percent will be cash and 60 percent will be credit. The company expects sales to Increase at the rate of 20 percent per month. Prepare a sales budget. b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. c. The cost of goods sold Is 70 percent of sales. The company desires to maintain a minimum ending Inventory equal to 20 percent of the next month's cost of goods sold. However, ending Inventory of December is expected to be $12,900. Assume that all purchases are made on account. Prepare an Inventory purchases budget. d. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. Prepare a cash payments budget for inventory purchases. e. Budgeted selling and administrative expenses per month follow: Salary expense (fixed) Sales commissions Supplies expense Utilities (fixed) Depreciation on store fixtures (fixed)* Rent (fixed) Miscellaneous (fixed) $ 18,900 4 2 $ 2,300 $ 4,900 $ 5,700 $ 2,100 of Sales of Sales "The capital expenditures budget indicates that Munoz will spend $146,600 on October 1 for store fixtures, which are expected to have a $29,000 salvage value and a two-year (24-month) useful life. Use this information to prepare a selling and administrative expenses budget. f. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. g. Munoz borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $21,000 cash balance. Prepare a cash budget.