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Assume a merchandising company provides the following information from its master budget for the month of May: Cash balance, May 1 $ 20,000 Cash collections
Assume a merchandising company provides the following information from its master budget for the month of May:
Cash balance, May 1 | $ 20,000 |
---|---|
Cash collections from customers | $ 80,000 |
Cash disbursements for merchandise purchases | $ 35,000 |
Cash disbursements for selling and administrative expenses | $ 40,000 |
Based solely on the information provided, what is the companys excess (deficiency) of cash available over disbursements at the end of May?
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