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Here are some important figures from the budget of Nechako Nougats Inc. for the second quarter of 2017: April $374, 400 148, 900 May $349,500
Here are some important figures from the budget of Nechako Nougats Inc. for the second quarter of 2017: April $374, 400 148, 900 May $349,500 169, 300 June $420, 500 200, 300 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 54, 340 12, 580 88, 800 70,300 12,580 135,000 75, 170 12,580 0 The company predicts that 5% of its credit sales will never be collected, 35% of its sales will be collected in the month of the sale, and the remaining 60% will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2017, credit sales were $235,000, and credit purchases were $161,300. Using this information, complete the following cash budget: (Do not round intermediate calculations. Do not leave any empty spaces; input a 0 wherever it is required. Omit $ sign in your response.) May June April $135,000 $ Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest $ $
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