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ANSWER URGENTLY PLEASE!!!!!!! Indigo Company expects to have a cash balance of $44,700 on January 1,2022 . Indigo has budgeted the following for the first
ANSWER URGENTLY PLEASE!!!!!!!
Indigo Company expects to have a cash balance of $44,700 on January 1,2022 . Indigo has budgeted the following for the first two months of the year 2022: 1. Collections from customers: January $90,900; February $109,000. 2. Payments to suppliers: January $40,000; February $50,300. 3. Direct labour: January $30,100; February $35,100. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $25,300; February $30,300. Overhead costs are paid as incurred. 5. Selling and administrative expenses: January $15,900; February $22,100. These costs do not include depreciation and they are paid as incurred. Sales of investments in January are expected to realize $9,900 in cash. Indigo Company wants to keep a minimum monthly 6. cash balance of $20,000. Ignore any interest on amounts borrowed. INDIGO COMPANY Cash Budget For 2022 January February Beginning cash balance $ $ Add : Ending cash balanceStep by Step Solution
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