Chrome File Edit View History Bookmarks Profiles Tab Window Help 0 7 9 8 Wed Nov 2 Free Pisces Zodiac Sign Yearly X FA22 ACCTG 211, Sect 004/00! X McGraw-Hill Education Campu X & Question 12 - Lesson 9 HW (G X + V F - C a ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.... ( * * IJ M Gmail YouTube Maps Translate YouTube TV Lesson 9 HW (Graded) i Saved Help Save & Exit Submit Check my work 12 Castor Incorporated is preparing its master budget. Budgeted sales and cash payments for merchandise purchases for the next three months follow. Budgeted April May June O Sales 49, 600 $ 62,000 $ 37, 200 points Cash payments for merchandise purchases 31, 310 26 , 040 26 , 660 Sales are 50% cash and 50% on credit. Sales in March were $37,200. All credit sales are collected in the month following the sale. The eBook March 31 balance sheet includes balances of $18,600 in cash and $3,100 in loans payable. A minimum cash balance of $18,600 is Hint required. Loans are obtained at the end of any month when the preliminary cash balance is below $18,600. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If a preliminary cash balance above $18,600 at HEIC Print month-end exists, loans are repaid from the excess. Expenses are paid in the month incurred and include sales commissions (10% of sales), shipping (2% of sales), office salaries ($7,750 per month), and rent ($4,650 per month). References (a) Prepare a schedule of cash receipts from sales for April, May, and June. (b) Prepare a cash budget for each of April, May, and June. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) G_2437.m CASTOR INCORPORATED Schedule of Cash Receipts from Sales April May June 49,600 $ 62,000 $ 37,200 Cash receipts from Screen Sh 022-0....59. Total cash receipts Screen Sh 022-0...00.0 est Search or type URL W S 8 W E R P 4 S D G H K Z X C B N M command command optionChrome File Edit View History Bookmarks Profiles Tab Window Help Free Pisces Zodiac Sign Yearly X FA22 ACCTG 211, Sect 004/00 x McGraw-Hill Education Campu X Question 12 - Lesson 9 HW (G X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.... ( * *0 M Gmail YouTube Maps Translate YouTube TV Lesson 9 HW (Graded) i Saved Help Save & Exit Submit Check my work 12 Cash Budget April May June Beginning cash balance 10 points Total cash available 0 Less: Cash payments for: eBook Hint Print References Total cash payments Preliminary cash balance Ending cash balance Loan balance April May June Loan balance - Beginning of month $ 3,100 Additional loan (loan repayment) Loan balance - End of month esc G Search or type URL + @ 6 O O Q W E R T Y U O P S D F G H J K X B N M