Cash budget-Basic Grenoble Enterprises had sales of $50,200 in March and $60,400 in April. Forecast sales for May, June, and July are $70,300, $79,600, and $99,900, respectively. The firm has a cash balance of $5,500 on May 1 and wishes to maintain a minimum cash balance of $5,500. Given the following data, prepare and interpret a cash budget for the months of May, June, and July. (1) The firm makes 23% of sales for cash, 58% are collected in the next month, and the remaining 19% are collected in the second month following sale. (2) The firm receives other income of $2,000 per month. (3) The firm's actual or expected purchases, all made for cash, are $50,000, $70,500, and $80,400 for the months of May through July, respectively. (4) Rent is $2,500 per month. (5) Wages and salaries are 8% of the previous month's sales. (6) Cash dividends of $3,100 will be paid in June. (7) Payment of principal and interest of $3,700 is due in June. (8) A cash purchase of equipment costing $5,800 is scheduled in July. (9) Taxes of $6,100 are due in June. (Round to the nearest dollar. Please input all the values in the table before checking your answers.) Disbursements Purchases Rent Wages and salaries Dividends Principal and interest Purchase of new equipment Taxes due Total cash disbursements March April $ $ $ $ $ au May (50,000) (2,500) (4,832) 3100 3700 $ 5800 $ 6100 $ 76032 LA LA

Cash budget-Basic Grenoble Enterprises had sales of $50.200 in Macch and $60,400 in Apel. Forecast sales for May, June, and July are $70,300,$79,600, and 599,900 , respectively. The firm has a cash balance of $5,500 on May 1 and wishes to maintain a minimum cash balance of 55,500 . Given the folowing data, prepare and interpret a cash budget for the months of May, Jine, and July (1) The firm makes 23% of sales for cash, 58% are colected in the next month, and the remaining 19% are collected in the second month following sale (2) The firm receives other income of $2,000 per month. (3) The firn's actual or expected purchases, all made for cash, are $50,000,$70,500, and $80,400 for the monhs of May through July, respectively (4) Rent is $2,500 per month. (5) Wages and salaries are 8% of the previcus menthis soles (6) Cash dividends of $3,100 wil be pald in dune (7) Payment of principal and interest of $3,700 is due in June (8) A cash purchase of equpment costing $5,800 is scheduled in July. (9) Taxes of $6,100 are doe in June (Pound to the nearest dollar. Prease input all the values in the table before checking your anseers)