Master Budget Case Project

CHECK FIGURES

$(2$a$)$ February purchases: $$66,500$

$(2$b$)$ February cash disbursements for purchases:

$$61,115$

Franchesca Company, a merchandising company, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparation of the master budget for the first quarter.

a$.$ As of December $31($the end of the prior quarter$),$ the company's balance sheet showed the following account balances:

$\backslash$table$[[$Cash$,$$$7,200,],[$Accounts receivable,$$38,500,],[$Inventory$,$$$11,100,],[$Buildings and equipment $($net$),$$$126,700,],[$Accounts payable,,$$35,900$