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ABC Company has a cash balance of $31,000 on August 1 and requires a minimum ending cash balance of $20,040. Cash receipts from sales budgeted
ABC Company has a cash balance of $31,000 on August 1 and requires a minimum ending cash balance of $20,040. Cash receipts from sales budgeted for August are $239,040. Cash disbursements budgeted for August include inventory purchases, $31,000; other manufacturing expenses, $91,000; operating expenses, $51,000; bond retirements, $56,000; and dividend payments, $21,000. Required: Prepare a cash budget for ABC Company for August.
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