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Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019: Credit sales Credit purchases Cash disbursements Wages, taxes,
Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019: Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases April $415,000 192,000 81.000 10,700 39,500 May $364,000 180,000 76,500 10,700 12,000 June $452,000 213,000 105,200 10,700 160,000 The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $342,000. Using this information, complete the following cash budget. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
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