Question
At the beginning of the 2016 school year, Britney Logan decided to prepare a A budget of estimated cash receipts and payments.cash budget for the
At the beginning of the 2016 school year, Britney Logan decided to prepare a A budget of estimated cash receipts and payments.cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:
Cash balance, September 1 (from a summer job) | $7,220 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase season football tickets in September | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional entertainment for each month | 250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pay fall semester tuition in September | 3,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pay rent at the beginning of each month | 350 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pay for food each month | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pay apartment deposit on September 2 (to be returned December 15) | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an overall cash decrease which should be indicated with a minus sign.
| 900 |
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