A company prepares its master budget for the year $2024$ on a quarterly basis. The budget officer has gathered the following data:

Estimated Sales for each quarter is $$240,000.$ All sales are on credit and all sales are collected in the following quarter.

Cost of goods sold for each quarter is $$120,000.$

Variable selling and administrative expenses $(100\%$ cash expenditure$)$ for each unit are $10\%$ sales commission.

Fixed selling and administrative $($S&A$)$ expenses for the year are: nturf

The company expects to borrow $$60,000$ on April, $1,2024.$ No principal will be repaid during the year; Interest rate at an annual rate

of $10\%$ is due quarterly.

The company will declare $$3,000$ dividend in December $2024,$ which will be paid in January $2025.$

The company's expected total cash receipts from sales is $$720,000$ and expected cash disbursements for purchasing raw materials is

$$90,000$ during the year $2024.$

Q$.$ If the year's beginning balance of cash is $$72,000,$ what is the budgeted ending balance of cash in the year $2024?$

Answer.