ABC Companys budgeted sales for June, July, and August are 13,800, 17,800, and 15,400 units respectively. The selling price for each unit is $12. Based on past experience, ABC expects that 25% of a months sales will be collected in the month of sale, 70% in the following month, and 2% in the second month following the sale. ABC Company has a cash balance of $34,000 on August 1 and requires a minimum ending cash balance of $29,000. Cash disbursements budgeted for August include inventory purchases, $26,000; other manufacturing expenses, $61,000; operating expenses, $40,000; bond retirements, $59,000; and dividend payments, $24,000.

Required: Prepare a cash budget for ABC Company for August.

the drop-down menus for the left side are:

-Borrowings

-Cash collections from sales

-Excess of available cash over disbursements

-For payment of dividends

-For payment of inventory purchases

-For payment of operating expenses

-For payment of other manufacturing expenses

-For payment to retire bond

ABC Company's budgeted sales for June, July, and August are 13.800, 17,800, and 15,400 units respectively. The selling price for each unit is $12. Based on past experience, ABC expects that 25% of a month's sales will be collected in the month of sale, 70% in the following month, and 2% in the second month following the sale. ABC Company has a cash balance of $34,000 on August 1 and requires a minimum ending cash balance of $29,000 Cash disbursements budgeted for August include inventory purchases, $26,000; other manufacturing expenses, $61,000; operating expenses, $40,000; band retirements, $59,000; and dividend payments, $24,000 Required: Prepare a cash budget for ABC Company for August. August Beginning cash balance Cash Receipts Total cash available Total cash disbursements Ending cash balance