Jessica Inc. provides you with the following budgeted information for two months in the current year.

	March	April
Sales	$550,000	$690,000
Inventory Costs	190,000	360,000
Capital Expenditures	100,000	25,000
General and Administration Costs (including amortization)	70,000	105,000

Expectations:

• Cash sales represent 20% of total sales
• All sales on account are collected in the following month
• 60% of Marchs $100,000 worth of capital expenditures is to be paid at the end of March. The remainder is to be paid in the following month. April's capital expenditure will be paid in May.
• Monthly amortization represents 20% of general and administration costs
• Inventory costs and general and administration costs are to be paid in the month in which they are incurred
• Dividends of $2,000 are expected to be declared in March and paid in April
• Jessica Inc. obtains the minimum financing needed to ensure at least a $20,000 cash balance at the end of the month through a note payable. Assume that any amount taken out of the bank loan may be repaid only at year end.

As of March 1

Cash	$27,000
Accounts Receivable*	182,000
Inventory	110,000
Long-Term Assets	105,000
Accumulated Depreciation	7,000
Accounts Payable	16,000
Dividends Payable (in March)	2,000
Notes Payable	265,000
Shareholder's Equity	104,000
*Comprised only of sales on account incurred in February

Do not enter dollar signs or commas in the input boxes. Use the negative sign for any cash deficit. Prepare a cash budget for March and April.

Jessica Inc. Cash Budget for March and April
	March	April
Opening Cash Balance	$Answer	$Answer
Receipts:
Cash from sales	$Answer	$Answer
Collection from customers	$Answer	$Answer
Total cash available	$Answer	$Answer
Disbursements:
Inventory costs	$Answer	$Answer
General and admin. costs	$Answer	$Answer
Capital Expenditures	$Answer	$Answer
Dividend Payment	$Answer	$Answer
Total Cash Payments	$Answer	$Answer
Cash Excess (Deficit)	$Answer	$Answer
Financing Requirements:
Notes Payable	$Answer	$Answer
Loan Repayment
Ending Cash Balance	$Answer	$Answer