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An Enterprises has the following business transaction estimates relating to the final quarter of 2020

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An Enterprises has the following business transaction estimates relating to the final quarter of 2020. 

October 
$ $ November December 
Credit Sales 105600 112000 138000 Cash Sales 21200 26420 31200 Receipts from Accounts Receivable '1. calculate calculate calculate Wages 28200 28200 28200 Office Furniture 6000 7800 0 Prepayments 0 0 5275 Administrative Expense 10000 10000 11900 Depreciation on Office Furniture 2500 2500 2500 Receipt of Loan 0 100000 0 Credit Purchases 42000 42000 58000 Payments of Accounts Payable 2. calculate calculate calculate Accrued Expenses 0 0 6700 
 

Notes 1. Actual Receipts from Accounts Receivable are 70% of the previous months Credit Sales and the balance of 30% owing is received in the following month. Credit Sales for September 2020 were $80,000 as they were in August 2020. Cash Sales were $16,500 in August 2020 and $18,000 in September of 2020. 
2. Payment of Accounts Payable is paid 60% of purchases in the month of Purchase and the remaining 40% in the month following. Purchases in September 2020 were $36,000. 
3. The cash balance at 1 October 2020 was $52,890 
Required:  Prepare a cash budget month by month for the quarter ending 31 December 2020. (15 marks) Note that marks will be deducted for each incorrect posting to the cash budget.