ABC Company has a cash balance of $40,000 on August 1 and requires a minimum ending cash balance of $28,960. Cash receipts from sales budgeted for August are $210,960. Cash disbursements budgeted for August include inventory purchases, $32,000; other manufacturing expenses, $52,000; operating expenses, $43,000; bond retirements, $65,000; and dividend payments, $30,000.

Required:

Prepare a cash budget for ABC Company for August.

ABC Company has a cash balance of $40,000 on August 1 and requires a minimum ending cash balance of $28,960. Cash receipts from sales budgeted for August are $210,960. Cash disbursements budgeted for August include inventory purchases, $32,000; other manufacturing expenses, $52,000; operating expenses, $43,000; bond retirements, $65,000; and dividend payments, $30,000. Required: Prepare a cash budget for ABC Company for August