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4 Cash budget: Basic Farmers Delight Corporation reported sales of $350,000 in June, $380,000 in July, and $390,000 in August. The forecasts for September, October,
4 Cash budget: Basic Farmers Delight Corporation reported sales of $350,000 in June, $380,000 in July, and $390,000 in August. The forecasts for September, October, and November are $385,000, $418,000, and $429,000, respectively. The initial cash balance on September 1 is $150,000, and a minimum of $8,000 should be kept. Use the given information to compile a cash budget for the months of September, October, and November (1) Farmers Delight predicts that 5% of its sales will never be collected, 30% of its sales P4-9 will be cash sales, and the remaining 65% will be collected in the following month. (2) Farmers Delight receives other monthly income of $3,000
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