Gerry Jacobs, a financial analyst for Best Value Supermarkets, has prepared the following sales and cash disbursement estimates for the period August through December of the current year.

Ninety percent of sales are for cash, the remaining 10 percent are collected one month later. All disbursements are on a cash basis. The firm wishes to maintain a minimum cash balance of $50. The beginning cash balance for October is $25. Prepare a cash budget for the month of October only; noting any needed financing or excess cashavailable.

Transcribed Image Text:

Month August September October November December Sales S400 500 500 600 700 Cash disbursements S300 500 700 400 500