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depreciation) are paid for when incurred. It is planned to purchase equipment during May 2019 at a cost of $6600. A $9000 loan payable will
depreciation) are paid for when incurred. It is planned to purchase equipment during May 2019 at a cost of $6600. A $9000 loan payable will be repaid during June 2019. The interest due at maturity will be $1650. The company's expected Cash at Bank balance at 1 May 2019 is $13 500. Estimated sales and purchases data are as follows. Sales Purchases 2019 February $75 000 $38 500 March 66 000 33 000 April 88 000 55 000 May 60 500 27 500 June 71 500 38 500 Required (a) Ignoring GST, prepare a cash budget for May and June 2019, by month and in total
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