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Attached are figures from the budget of the Nashville Nougats, Inc, for the second quarter of 2015. The Company predicts that 5 percent of its
Attached are figures from the budget of the Nashville Nougats, Inc, for the second quarter of 2015. The Company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2015, credit sales were $235,000 and credit purchases were $161,300. Complete the second half (cash budget) of the spreadsheet.
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