Elizabeth Enterprises expects to begin next year with a cash balance of $15,000. Cash collections from sales and on account during the year are expected to be $470,500. The firm wants to maintain a minimum cash balance of $5,000. Budgeted cash disbursements for the year are as follows:

Payoff of note payable	$52,500
Interest on note payable	4,700
Purchase of computer system	17,900
Payments for operating costs and inventory purchases	193,500
Direct labor payments	110,000
Cash overhead payments	106,400
Cash selling and administrative payments	94,800

The company can, if necessary, borrow in $1,000 amounts. Prepare a cash budget for next year.

Beginning cash balance		Answer
Cash collections		Answer
Total cash available		Answer
Disbursements:
Payoff of note payable	Answer
Interest on note payable	Answer
Purchase of computer system	Answer
Operating costs and inventory purchases	Answer
Direct labor wages	Answer
Overhead costs	Answer
Selling and administrative costs	Answer
Total cash disbursements		Answer
Cash excess (deficiency)		Answer
Minimum cash balance needed		Answer
Cash available (needed)		Answer
Financing required		Answer
Ending cash balance		Answer

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