Question
Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019: AprilMayJuneCredit sales$402,000$351,000$439,000Credit purchases179,000167,000200,000Cash disbursementsWages, taxes, and expenses79,70075,200103,900Interest9,4009,4009,400Equipment purchases33,0005,500147,000
Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019:
AprilMayJuneCredit sales$402,000$351,000$439,000Credit purchases179,000167,000200,000Cash disbursementsWages, taxes, and expenses79,70075,200103,900Interest9,4009,4009,400Equipment purchases33,0005,500147,000
The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 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 $329,000.
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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