Cash budgetBasic Grenoble Enterprises had sales of $49,800 in March and $60,000 in April. Forecast sales for May, June, and July are $70,400, $80,100, and $100,300, respectively. The firm has a cash balance of $4,800 on May 1 and wishes to maintain a minimum cash balance of $4,800. Given the following data, prepare and interpret a cash budget for the months of May, June, and July.

Repeat for June and July

The firm should establish a credit line of at least $______, but may need to secure three to four times this amount based on scenario analysis

Cash budget-Basic Grenoble Enterprises had sales of $49,800 in March and $60,000 in April. Forecast sales for May, June, and July are $70,400, $80,100, and $100,300, respectively. The firm has a cash balance of $4,800 on May 1 and wishes to maintain a minimum cash balance of $4,800. Given the following data, prepare and interpret a cash budget for the months of May, June, and July. (1) The firm makes 20% of sales for cash, 56% are collected in the next month, and the remaining 24% are collected in the second month following sale. (2) The firm receives other income of $1,800 per month. (3) The firm's actual or expected purchases, all made for cash, are $50,200, $69,900, and $80,500 for the months of May through July, respectively. (4) Rent is $3,200 per month. (5) Wages and salaries are 8% of the previous month's sales. (6) Cash dividends of $3,200 will be paid in June. (7) Payment of principal and interest of $4,300 is due in June. (8) A cash purchase of equipment costing $6,300 is scheduled in July. (9) Taxes of $5,700 are due in June. March April May Sales $ 49,800 $ 60,000 $ 70,400 Cash sales 9,960 12,000 $ $ Lag 1 month Lag 2 months $ Other income $ Total cash receipts $ Round to the nearest dollar. Please input all the values in the table before checking your answers.) March April May Disbursements Purchases $ $ Rent $ Wages and salaries $ Dividends $ $ Principal and interest Purchase of new equipment $ Taxes due $ Total cash disbursements $ Round to the nearest dollar. Please input all the values in the table before checking your answers.) March April May Net cash flow $ $ Add: Beginning cash Ending cash Minimum cash $ $ $ Required total financing (notes payable) Excess cash balance (marketable securities) $