Exercise 7-13A (Algo) Preparing a cash budget LO 7-5 The accountant for Benson's Dress Shop prepared the following cash budget. Benson's desires to maintain a cash balance of $17,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 2 percent per month Required a. Complete the cash budget by filling in the missing amounts b. Determine the amount of net cash flows from operating activities Benson's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Benson's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the cash budget by filling in the missing amounts. Note: Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount. Cash Budget July August September Section 1 Cash receipts Beginning cash balance $ 44,000 Add cash receipts 183,000 203,000 243,600 Total cash available 227,000 Section 2 Cash payments For inventory purchases 167,026 141,730) 175,652 For S&A expenses 56,000 62.060 62,932 For interest expense 0 Total budgeted disbursements Section 3 Financing activities Surplus (shortage) Borrowing (repayments) Ending cash balance 223,026 3,974 13,026 $ 17,000 $ 17,000 $ 17,000 O Question 5-Exerci Prev Next