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Built - Tight is preparing its master budget. Budgeted sales and cash payments follow: Sales to customers are 3 0 % cash and 7 0
BuiltTight is preparing its master budget. Budgeted sales and cash payments follow:
Sales to customers are cash and on credit. Sales in June were $ All credit sales are collected in the
month following the sale. The June balance sheet includes balances of $ in cash and $ in loans payable.
A minimum cash balance of $ is required. Loans are obtained at the end of any month when the preliminary cash
balance is below $ Interest is per month based on the beginningofthemonth loan balance and is paid at each
monthend. Any preliminary cash balance above $ is used to repay loans at monthend. Expenses are paid in the
month incurred and consist of sales commissions of sales office salaries $ per month and rent $ per
month
Problem A Algo Part
Prepare a cash budget for the months of July. August, and September. Negatlve balences and Loan repayment amounts If any
should be Indleated with minus sign. Enter your flnel answers In whole dollars.
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