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Develop a cash budget for the next three months using the information provided below Monthly sales forcast are 1 5 0 , 0 0 0

Develop a cash budget for the next three months using the information provided below
Monthly sales forcast are 150,000,180,000 and 60,000
current months sales are 120,000
cost of goods sold equals 65 percent of sales
lease payments 22,000 per month
the company is required to pay in installment of 120,000 for a note
the cash position at the end of the current month is 80,000
the target cash balaence is 50,000
assume the 60 percent of sales are collected in the month sold and the remaining collected in the following month

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