Cash budget-Basie Grenoble Enterprises had sales of $50,000 in Marchand $60.000 in April Forecast sales for May June and July are 570,000, 500.000, and $100,000, respectively. The firm has a cash balance of 55.000 May 1 and wishes to maintain a minimum canh balance of $5.000 Given the following data prepare and interpreta cash budget for the month of May, Juno, and July (1) The firm makes 20% of sales for cash. 60% are collected in the next month, and the remaining 20% are collected in the second month following sale 2) The fo received the income of $2,000 per month The few's actual or expected purchases, all made for cash, 550,000, 570.900 and 530,000 for the months of May through July, respectively (4) Rent is $3,000 per month 5 Wagon and salarien are 10% of the previous montissa (6) Cash dividends of $3,000 will be paid in June Payment of principal and interest of 54.000 is due in June A cash purchase of equipment costing 55.000 is scheduled in July Taxes of 36,000 we doen March Apel May 5 50,000 $ 60 000 $ 70 000 Cash sales 10,000 12.000 6 La month $ Lag 2 months 5 Other income 5 Total cash reci $ Enter any number in the eats and then click Check Answer parts 9 Check Answer Cash budget-Basie Grenoble Enterprises had sales of $50,000 in Marchand $60.000 in April Forecast sales for May June and July are 570,000, 500.000, and $100,000, respectively. The firm has a cash balance of 55.000 May 1 and wishes to maintain a minimum canh balance of $5.000 Given the following data prepare and interpreta cash budget for the month of May, Juno, and July (1) The firm makes 20% of sales for cash. 60% are collected in the next month, and the remaining 20% are collected in the second month following sale 2) The fo received the income of $2,000 per month The few's actual or expected purchases, all made for cash, 550,000, 570.900 and 530,000 for the months of May through July, respectively (4) Rent is $3,000 per month 5 Wagon and salarien are 10% of the previous montissa (6) Cash dividends of $3,000 will be paid in June Payment of principal and interest of 54.000 is due in June A cash purchase of equipment costing 55.000 is scheduled in July Taxes of 36,000 we doen March Apel May 5 50,000 $ 60 000 $ 70 000 Cash sales 10,000 12.000 6 La month $ Lag 2 months 5 Other income 5 Total cash reci $ Enter any number in the eats and then click Check Answer parts 9 Check