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Volan's Restaurant Supply is preparing its caah budgets for the first two months of the upcoming year. Here is the informstion about the compeny's upcoming cash neceipts and cash disbursernente 1) (Clok the icon to viow the information.) tequirements Prepare schedules of (a) budgeted dash collections, (b) budgeled cash payments for purchases, and (c) budgeted cash puymems for operating expenses. 5 how fotals for each month and totals for January and Fehruary combined. Prepare a combined cash budget. If no financing activily takes place, what is the budgeted cash balance on February 28 ? More info a. Sales are 65% cash and 35\% crede. Credit sales are coliected 30% in the month of sale and the remainder in the month after sale. Actual sales in Decenber were $55,000. Schedules of budgeted cemas doe tha hain monthe int the unesmina vear are as follows: b. Actual purchases of direct materials in December were $22,500. The company's purchases of drect materials in January are budgetod to be $21,000 and $26,500 in Fabruary. All purchases are psid 30% in the month of purchase and 70% the following month. c. Salaries and salos commissions ate also paid half in the month barned and half the noxt month. Actual salaries were $7,000 in December. Budgeted salaries in January are $8,000 and February budgoted salares are 59,500 . Sales commissions each month are 15% of that month's sales d. Fint expense is $3,200 per month. e. Depreclation is $2,800 per month. f. Estimated income tax payments are made at the ond of January. The estimaied tax payment is projected to be $12,000 q. The cash balance at the end of the prior year was $24,000. Requirament 1a. Propare a schedde of bbogeted cash colections for January and Fotruary. Show totals for each menth and tows/s for Januacy and February combined. Nolan's Restaurant Supply Cash Collections Budget b. Prepare a schedile of budgeted cash payments for purchases for January and Fobruary. Show totals for each month and totals for Jacuary and February combined. Notan's Restaurant Supply Cash Payments tor Material Purchases Budjet c. Pregere a scheduie of fudgeled eash payments for operating expences for January and Fobruary. Show wotais for each morth and tolais for January and Fabruary combined, (If an input feld is Nolan Restaurant Supply Cash Payments for Operating Expenses Budget c. Prepare a schedule of budgoted cash poyments for operating expenses for January and February Show totals for oach month and totais for January and February corrbined. (If an input field not used in the table, loave the input field empty, do not enter a zere. Found all amounts to the nearest doliar.) Requirement 2. Prepare a combined cash budgot for January and February if no financing octivity takes placo, what is the budgeted cash balance on February 28? Nolan's Restaurant Supply Combined Cash Budget For the Months Ended January 31 and February 28

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