Chapter 11 Interactive Assignment 10 pts Not Submitted Due Jul 31, 2021 at 11:59 PM Submission Types File Upload Submission & Rubric > Description Use EXCEL to complete Chapter 11 Problem 18 AND upload your work with mnhical Representations. Submit Assignment 1 Previous Next > co Q @ Dashboard Calendar To Do Notifications lnbox cash receipts Dividends par 20X1 20X2 20X3 year. The following is a summary of the +10,000 + 5,000 + 20,000 - 5,000 + 5,000 ance of $10,000 Accounts Receivable + 10,000 Accounts Payable A major piece of equipment that costs $50,000 is scheduled for purchase during Zon AllMcNight would like to purchase the machine with company cash rather than borrow the necessary funds. The cash balance at the beginning of 20X1 is $10,000. ly acceptable ay of the sale. Assume that the income tax for each year is paid in the year it is shown as expense. y. In addition, h, resulting in Required. ware cash budgets for 20X1-203 for the Night Time Inn using the adjusted net income ge 40 percent les consist of approach. Problem 18 1 averages 35 month. In the he M&N Corporation, a consulting client of yours, has just completed its long-range ding for this herations budget for three years. The company has asked you to assess its ability to buy re Bank and Prious pieces of equipment in 20X2 and 20X3. In order to respond, you need to prepare ash budgets for 20X1-20X3. Information provided to you is as follows: ntal basis of 20X1 20X2 20X3 Sales $5,000,000 $6,000,000 $6,500,000 Operating expense 4,000,000 5,000,000 6,000,000 Interest expense 100,000 90,000 80,000 Depreciation 400,000 410,000 420,000 full ant Income before taxes 500,000 500,000 -0- Income tax provision 200,000 200,000 - 0- operating re the cash Net income 300,000 $ 300,000 $ - 0- Other information is as follows: Income tax payments 150,000 $ 150,000 $ 50,000 X3 Increase in accounts receivable 100,000 200,000 150,000 Increase in accounts payable 5,000 15,000 20,000 00,000 Reduction in LTD 100,000 110,000 120,000 0,000 0,000 Required: 0,000 Prepare a cash budget for 20X1-20X3. Assume cash on January 1, 20X1, equals $25,000