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Cash budget - Basic Grenoble Enterprises had sales of $ 5 0 , 4 0 0 in March and $ 6 0 , 0 0
Cash budgetBasic Grenoble Enterprises had sales of $ in March and $ in April. Forecast sales for May, June, and July are $$ and $ respectively. The firm has a cash balance of $ on May and wishes to maintain a minimum cash balance of $ Given the following data, prepare and interpret a cash budget for the months of May, June, and July.
The firm makes of sales for cash, are collected in the next month, and the remaining are collected in the second month following sale.
The firm receives other income of $ per month.
The firm's actual or expected purchases, all made for cash, are $$ and $ for the months of May through July, respectively.
Rent is $ per month.
Wages and salaries are of the previous month's sales.
Cash dividends of $ will be paid in June.
Payment of principal and interest of $ is due in June.
A cash purchase of equipment costing $ is scheduled in July.
Taxes of $ are due in June.
Complete the first month of the cash budget for Grenoble Enterprises below: Round to the nearest dollar. Please input all the values in the table before checking your answers.
tablearch,April,,MaySales$$$Cash sales,,$Lag month,,,,$Lag months,,,,$Other income,,,,$Total cash receipts,,,,$
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