Assume Peaton Computer Company began January with $19,000 cash. Management forecasts the following cash receipts and payments during the period: (Click the icon to view the information.) Read the requirements. Requirement 1. Prepare Peaton Computer Company's cash budget for January and February, 2020. Begin by completing the January cash budget, then complete the February cash budget. (Complete all input fields. Enter a "O" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency, principal repayments, and/or a net repayment on financing with a minus sign or parentheses. Assume there is no debt at the beginning of January.) Peaton Computer Company Cash Budget Two Months Ended February 28, 2020 January Beginning cash balance Cash receipts Cash available Cash payments: Capital expenditures Selling and administrative expenses Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing: phka * Enter any number in the edit fields and then click Check Answer Assume Peaton Computer Company began January with $19,000 cash. Management forecasts the following cash receipts and payments during the period: (Click the icon to view the information.) Read the requirements. Cash Budget Two Months Ended February 28, 2020 January Beginning cash balance Cash receipts Cash available Cash payments: Capital expenditures Selling and administrative expenses Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing: rrowir Principal repayments Total effects of financing Ending cash balance Enter any number in the edit fields and then click Check Answer. Assume Peaton Computer Company began January with $19,000 cash. Management forecasts the following cash receipts and payments during the period: (Click the icon to view the information.) Read the requirements More Info Management forecasts that cash receipts from credit customers will be $55,000 in January and $56,000 in February. Projected cash payments include equipment purchases ($14,000 in January and $37,000 in February) and selling and administrative expenses ($5,000 each month). Peaton Computer Company's bank requires a $30,000 minimum balance in the firm's checking account. At the end of any month when the account balance falls below $30,000, the bank automatically extends credit to the firm in multiples of $5,000. Peaton Computer Company borrows as little as possible and pays back loans each month in $1,000 increments, plus 5% interest on the entire unpaid principal. The first payment occurs one month after the loan. - X Requirements Print Done Borrowing 1. Prepare Peaton Computer Company's cash budget for January and February, 2020 2. How much cash will Peaton Computer Company borrow in February if cash receipts from customers that month total $31,000 instead of $56,000? Principal repayments Total effects of financing Ending cash balance Print Done Enter any number in the edit fields and then click Check
