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Can you explain the steps so I can understand how to do it? Thank you :) OBJ PR 6-4B Cash budget instructs you to prepare
Can you explain the steps so I can understand how to do it? Thank you :)
OBJ PR 6-4B Cash budget instructs you to prepare a monthly cash The controller of Mercury shoes the following budget information: the next three months. You are presented with July budget for August $160,000 185,000 $200,000 82,000 66,000 105000 46,000 40,000 Manufacturing costs 51,000 Selling and administrative expenses 120,000 capital expenditures The expects to sell about 10% of its merchandise for cash. of sales count, company collected in the month following the sale and the remainder 60% expected to be the following month (second month after sale). Depreciation, insurance, and property represent s 12,000 of the estimated monthly manufacturing nual insurance premium is paid in February, and the annual property taxes are paid in November. of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. and Current assets as June 1 include cash of $42,000, marketable securities of $25,000 accounts receivable of s198,000 ($150,000 from May sales and $48000 from sales). Sales on account in AnrilStep by Step Solution
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