Consider the budgeted income statement for CarlisleCarlisle Company for June 20X4.

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The cash balance, May 31, 20X4, is $ 10 comma 000$10,000. Sales proceeds are collected as follows: 90 %90% the month of sale, 5 %5% the second month, and 5 %5% the third month. Accounts receivable are $ 59 comma 000$59,000 on May 31, 20X4, consisting of $ 21 comma 000$21,000 from April sales and $ 38 comma 000$38,000 from May sales. Accounts payable on May 31, 20X4, are $ 141 comma 000$141,000. CarlisleCarlisle Company pays 35 %35% of purchases during the month of purchase and the remainder during the following month. All operating expenses requiring cash are paid during the month of recognition, except that insurance and property taxes are paid annually in December for the forthcoming year.

Requirement

1. Prepare a cash budget for June. Confine your analysis to the given data. Ignore income taxes.

Requirement 1. Prepare a cash budget for June. (Round your answers to the nearest whole number.)

Carlisle Company

Cash Budget

For the Month Ended June 20, 20X4

(In thousands)

Beginning Cash, May 31, 20X4

10000

Cash Reciepts:

Collections from customers from:

June sales

May sales

April sales

Total cash available during June

Cash Disbursements:

On accounts payable of May 31

On June purchases

Wages

33

Utilities

5

Advertising

9

Office expenses

6

Ending Cash, June 30, 20X4

Sales 345

Inventory, May 31 66

Purhcase 190

Availalbe for sale 256

Inventory June 30 48

COGS 208

GM 137

Opertating expenses:

Wages 33

Utilities 5

Advert 9

Depreciation 6

Office expenses 6