All sales are on credit; 60 percent is collected during the month of sale, and 40 pecent is collected during the next month. cost of goods sold is 80 percent of sales. payments for merchnadise sold are made in the month following the month of sale. opersting expenses total $52,000 per month and are paid during the month incurred. the cash balance on feburary 1 is estimated to be 35,000

Patricks Retail Company is planning a cash budget for the next three months. Estimated sales revenue is as follows: Alt sales are on credic; 60 percent is collected during the month of sale and 40 percent is collected during the next month. Cost of goods sold is a0 percent of sales, Paymen estimated to be $35,000. Prepare manthly cash budgets for February, March, and April. Use negative signs only with heginning and ending cash balances, when appropriate. Do not use negative signs with disbursement answers