Question
A company is preparing its cash budget for the coming month. All sales are on account. Given the following: Beginning Balances Budget Amounts Cash $
A company is preparing its cash budget for the coming month. All sales are on account. Given the following:
| Beginning Balances | Budget Amounts | ||||||
| Cash | $ | 230,000 | |||||
| Accounts Receivable | 210,000 | ||||||
| Sales | $ | 950,000 | |||||
| Cash disbursements | 1,080,000 | ||||||
| Depreciation | 40,000 | ||||||
| Ending accounts receivable balance | 240,000 | ||||||
What is the expected cash balance of the company at the end of the coming month? (CIA adapted)
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Financial Accounting
Authors: Patricia A. Libby, Daniel Short, George Kanaan, Maureen Libby Gowing, Robert Libby
4th Canadian Edition
0070001499, 9780070001497
