PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management's most o

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PrimeTime Sportswear is a custom imprinter that began operations
six months ago. Sales have exceeded management's most optimistic
projections. Sales are made on account and collected as follows:
51% in the month after the sale is made and 46% in the second month
after sale. Merchandise purchases and operating expenses are paid
as follows:
PrimeTime Sportswear's income statement budget for each of the next
four months, newly revised to reflect the success of the firm,
follows:
Cash on hand August 31 is estimated to be $40,500.
Collections of August 31 accounts receivable were
estimated to be $17,670 in September and $15,350
in October. Payments of August 31 accounts payable
and accrued expenses in September were estimated to be
$23,970.

Required:
a-1. Prepare a cash budget for October and
November. (Beginning cash should be indicated with a
minus sign if it is a negative amount.)
Assume now that PrimeTime Sportswear is a
mature firm, and that the September–November data represent a
seasonal peak in business. Prepare a cash budget for December,
January, and February, assuming that the income statements for
January and February are the same as
December's. (Beginning cash should be indicated with a
minus sign if it is a negative amount.)