c. Assume that receipts from sales come in uniformly during the month (i.e., cash receipts come in at the rate of 1/30 each day) but that all outflows are paid on the 5th of the month. Will this have an effect on the cash budget—in other words, would the cash budget you have prepared be valid under these assumptions?

If not, what can be done to make a valid estimate of peak financing requirements?

No calculations are required, although calculations can be used to illustrate the effects.