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managerial accounting help asap?! 3. The Doley Company has planned the following sales for the next three months: Budgvted Sales $40.00 Sales are made 20%
managerial accounting help asap?!
3. The Doley Company has planned the following sales for the next three months: Budgvted Sales $40.00 Sales are made 20% for cash and 80% on account. From experience, the company has learned that a month's anar Eshn Marh $70.000 $50 000 sales on account are collected according to the following pattern: Month of sale 60% 30% s% Fint monih following sale Seoond month folloing sale nuollectilde 7% The company requires a minimum cash balance of $5,000 to start a month. The beginning cash balance in March is budgeted to be $6,000. Required: a) Compute the budgeted cash receipts for March. b) The following additional information has been provided for March: eicatory purchases (all paid in March) Operating Expenses tall paid in March) Leprociation eupensc for Marh Dxidends paid in March 28.000 40.000 55.000 54000 Prepare a cash budget in good form for the month of March, using this information and the budgeted cash receipts you computed for part a) above. The company can borrow in any dollar amount and will not pay interest until AprilStep by Step Solution
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