Crescent Artichoke Growers (CAG) is a major food cooperative. Suppose CAG begins 2010 with cash of $11

Question:

Crescent Artichoke Growers (CAG) is a major food cooperative. Suppose CAG begins 2010 with cash of $11 million. CAG estimates cash receipts during 2010 will total $104 million. Planned payments will total $93 million. To meet daily cash needs next year, CAG must maintain a cash balance of at least $17 million.

Prepare the organizations cash budget for 2010.

Cash Budget
A cash budget is an estimation of the cash flows for a business over a specific period of time. These cash inflows and outflows include revenues collected, expenses paid, and loans receipts and payment. Its primary purpose is to provide the...