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Here are some important figures from the budget of Nechako Nougats Inc. for the second quarter of 2021: April May June Credit sales $374,400 $349,500
Here are some important figures from the budget of Nechako Nougats Inc. for the second quarter of 2021: April May June Credit sales $374,400 $349,500 $420,500 Credit purchases 148,900 169,300 200,300 Cash disbursements Wages, taxes, and expenses 54,340 70,300 75,170 Interest 12,580 12,580 12,580 Equipment purchases 88,800 135,000 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 2021, 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.) April May June Beginning cash balance $135,000 $ $ Cash receipts Cash collections from credit sales Total cash available $ $ $ Cash disbursements Purchases $ $ $ Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements $ $ $ Ending cash balance
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