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Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2 0 2 0 : April May June Credit
Here are some important figures from the budget of Cornell, Inc., for the second quarter of : April May June Credit sales $ $ $ Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases The company predicts that percent of its credit sales will never be collected, percent of its sales will be collected in the month of the sale, and the remaining percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March credit sales were $ and credit purchases were $ Using this information, complete the following cash budget. Do not round intermediate calculations. April May June Beginning cash balance $ Cash receipt Cash collection for credit sales Total cash available Cash disbursements Purchases Wages, taxes and expenses Interest Equipment purchases Total cash disbursement Ending cash balance
Here are some important figures from the budget of Cornell, Inc., for the second quarter of :
April May June
Credit sales $ $ $
Credit purchases
Cash disbursements
Wages, taxes, and expenses
Interest
Equipment purchases
The company predicts that percent of its credit sales will never be collected, percent of its sales will be collected in the month of the sale, and the remaining percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.
In March credit sales were $ and credit purchases were $ Using this information, complete the following cash budget. Do not round intermediate calculations.
April May June
Beginning cash balance $
Cash receipt
Cash collection for credit sales
Total cash available
Cash disbursements
Purchases
Wages, taxes and expenses
Interest
Equipment purchases
Total cash disbursement
Ending cash balance
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