Chapter 18	Calculating the Cash Budget [LO3] Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2015:
		Question 11
		Input Area:
			April	May	June
		Credit sales	$ 374,400	$ 349,500	$ 420,500
		Credit purchases	148,900	169,300	200,300
		Cash disbursements
		Wages, taxes, and expenses	54,340	70,300	75,170
		Interest	12,580	12,580	12,580
		Equipment purchases	88,800	135,000	-
		Uncollected credit sales	5%
		Collected in the month of the sale	35%
		Collected in the following month	60%
		Previous month credit sales	$ 235,000
		Previous month credit purchases	$ 161,300
		Beginning cash	$ 135,000
		Output Area:
								The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected
								in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be
		Sales collections = .35 times current month sales + .60 times previous month sales.						paid in the month following the purchase. In March 2015, credit sales were $235,000 and credit purchases were $161,300.
								Using this information, complete the following cash budget:
			April	May	June
		Beginning cash balance	$ 135,000
		Cash receipts
		Cash collections from credit sales
		Total cash available
		Cash disbursements
		Purchases
		Wages, taxes, and expenses
		Interest
		Equipment purchases
		Total cash disbursements
		Ending cash balance