- Here Are Some Important Figures From The Budget Of Crenshow Inc For The Second Quarter Of 2019 April May June 403 00 1 (45.19 KiB) Viewed 61 times
- Here Are Some Important Figures From The Budget Of Crenshow Inc For The Second Quarter Of 2019 April May June 403 00 2 (30.9 KiB) Viewed 61 times
Here are some important figures from the budget of Crenshow, Inc. for the second quarter of 2019: April May June $403,000 $352,000 $440,000 180,000 168,000 201,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 79,800 9,500 75,300 9,500 6,000 104,000 9,500 148,000 33,500 The
company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $330,000. Using this information, complete the following cash budget. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
credit sales were $330.000 Using this information, complete the following cash budget. (Do not round Intermediate calculations and round your answers to the nearest whole number, e.g. 32.) April May June $ 110,000 $ 172,000 Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance