ABC Companys budgeted sales for June, July, and August are 15,000, 19,000, and 16,700 units respectively. The selling price for each unit is $12. Based on past experience, ABC expects that 40% of a months sales will be collected in the month of sale, 55% in the following month, and 3% in the second month following the sale. ABC Company has a cash balance of $40,000 on August 1 and requires a minimum ending cash balance of $35,000. 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.

	August
Beginning cash balance
Cash Receipts:
Total cash available
Cash Disbursements:
Total cash disbursements
Ending cash balance