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Please prepare a cash budget for the first quarter of 2020!!!! That is the only section I need help with. I included all answers of the previous sections. Please help!!!

Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31,2019 , totaled $183,600. Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep 5\% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2019, Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep 5\% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2019, totaled 11,390 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2019, totaled $103,735. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $9 per hour. The Cash balance on December 31, 2019, totaled $101,000, but management has decided it would like to maintain a cash balance of at least $800,000 beginning on January 31,2020 . Dividends are paid each month at the rate of $2.40 per share for 4,890 shares outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 9% interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $490,000 equipment purchase is planned for February. For the first quarter of 2020 , prepare a sales budget. For the first quarter of 2020 , prepare a production budget. For the first quarter of 2020, prepare a direct materials budget. (Round cost per pound to 2 decimal places, e.g. 0.25 and all other answers to 0 decimal places, e.g. 2,520.) For the first quarter of 2020, prepare a direct labor budget. (Round time per unit to nearest hour, e.g. 30 minutes will be rounded to 0.5 hours) Eor the first quarter of 2020, prepare a selling and administrative budget. (Enter per unit expenses rounded to 2 decimal places. E.g. 1.25) For the first quarter of 2020 , prepare a schedule for expected cash collections from customers. For the first quarter of 2020 , prepare a schedule for expected payments for materials purchases. (Round answers to 0 decimal places, e.g. 2,520.) For the first quarter of 2020, prepare a cash budget. (Round answers to 0 decimal places, e.g. 2,520.) WATERWAYS CORPORATION Cash Budget For the First Quarter of 2020 First Quarter Add V: Receipts Collections From Customers Total Available Cash Less V: Disbursements Direct Labor Direct Materials 194835 Dividends Equipment Purchase Manufacturing Overhead 99548 Selling And Administrative Total Disbursements Excess (Deficiency) Of Available Cash Over Cash Disbursements Financing Add V: Borrowings Less : Interest Repayments For the first quarter of 2020, prepare a cash budget. (Round answers to 0 decimal places, e.g. 2,520.) WATERWAYS CORPORATION Cash Budget For the First Quarter of 2020 First Quarter

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