Barnum Distributors wants a projection of cash receipts and cash payments for the month of November. On November 28, a note will be payable in the amount of $98,500, including interest. The cash balance on November 1 is $29,600. Accounts payable to merchandise creditors at the end of October were $217,000.

The company's experience indicates that 70 percent of sales will be collected during the month of sale, 20 percent in the month following the sale, and 7 percent in the second month following the sale; 3 percent will be uncollectible. The company sells various products at an average price of $11 per unit. Selected sales figures are as follows:

	Units
Sept.%u2212actual	40,000
Oct.%u2212actual	60,000
Nov.%u2212estimated	80,000
Dec.%u2212estimated	50,000
Total estimated for the current year	800,000

Because purchases are payable within 15 days, approximately 50 percent of the purchases in a given month are paid in the following month. The average cost of units purchased is $7 per unit. Inventories at the end of each month are maintained at a level of 2,000 units plus 10 percent of the number of units that will be sold in the following month. The inventory on October 1 amounted to 8,000 units.

Budgeted operating expenses for November are $220,000. Of this amount, $90,000 is considered fixed (including depreciation of $35,000). All operating expenses, other than depreciation, are paid in the month in which they are incurred.

The company expects to sell fully depreciated equipment in November for $8,400 cash.

Instructions

Prepare a cash budget for the month of November, supported by schedules of cash collections on accounts receivable and cash payments for purchases of merchandise. (Omit the "$" sign in your response.)

BARNUM DISTRIBUTORS Cash Budget For the Month Ended November 30, 20__
(Click to select) Collections on receivables Cash balance at end of month Payment on note payable Sale of fully depreciated equipment Cash balance at beginning of month		$
Receipts:
(Click to select) Cash balance at end of month Cash balance at beginning of month Payment on note payable Collections on receivables Sale of fully depreciated equipment	$
(Click to select) Cash balance at beginning of month Collections on receivables Payment on note payable Cash balance at end of month Sale of fully depreciated equipment
Total cash available		$
Payments:
(Click to select) Payments on operating expenses Sale of fully depreciated equipment Payment on note payable Collections on receivables Payments for purchases of merchandise	$
(Click to select) Sale of fully depreciated equipment Collections on receivables Payment on note payable Payments on operating expenses Payments for purchases of merchandise
(Click to select) Payments for purchases of merchandise Collections on receivables Payment on note payable Payments on operating expenses Sale of fully depreciated equipment
(Click to select) Collections on receivables Cash balance at end of month Payments on operating expenses Payment on note payable Cash balance at beginning of month		$