Oct Nov Dec $ 210,000 $300,000 $ 220,000 Budgeted Sales Budgeted Pmts (all paid in cash in month incurred) Merchandise (all are on account) Shipping $ $ 80,750 $ 75,000 $ 18,500 $ 15,000 $ 70,487 18,000 A/R collection: Collected in the month of sale Collected one month after the sale 65% 35% Balances for relevant accounts on September 2020 Cash $ Accounts Receivable $ Loan Payable $ 61,350 84,000 20,000 Monthly operating expenses paid in the month incurred Sales commission % of sales 20% Office Salaries $ 100,000 Rent $ 15,000 Minimum required ending cash balance $ Montly interest rate on beginning of month loan balance 25,000 3% Required: Prepare a cash receipts budget for October, November, & December Lavender cell-enter the appropriate line item Green cells-formula & sheet reference Blue cells- Formula Tangerine cells-sheet reference or cell reference Prepare a Cash budget for each month October-December Lavender cell-enter the appropriate line item in the order the information is provided in above instructions Green cells- formula & sheet reference Blue cells- Formula Tangerine cells-sheet reference/cell reference you should combine merchandise payments into one group in cash budget BEAUTIFUL GARDENS & MORE Cash Receipts Budget For October, November, & December October November December Total cash receipts BEAUTIFUL GARDENS & MORE Cash Budget For October, November, & December October November December $ Beginning cash balance* Cash Receipts Total cash available Payments for Merchandise $ $ $ $ Interest on bank loan $ $ ulu $ $ $ $ Preliminary cash balance Additional loan from bank Repayment of loan to bank Ending cash balance $ $ $ Loan balance, end of month Oct Nov Dec $ 210,000 $300,000 $ 220,000 Budgeted Sales Budgeted Pmts (all paid in cash in month incurred) Merchandise (all are on account) Shipping $ $ 80,750 $ 75,000 $ 18,500 $ 15,000 $ 70,487 18,000 A/R collection: Collected in the month of sale Collected one month after the sale 65% 35% Balances for relevant accounts on September 2020 Cash $ Accounts Receivable $ Loan Payable $ 61,350 84,000 20,000 Monthly operating expenses paid in the month incurred Sales commission % of sales 20% Office Salaries $ 100,000 Rent $ 15,000 Minimum required ending cash balance $ Montly interest rate on beginning of month loan balance 25,000 3% Required: Prepare a cash receipts budget for October, November, & December Lavender cell-enter the appropriate line item Green cells-formula & sheet reference Blue cells- Formula Tangerine cells-sheet reference or cell reference Prepare a Cash budget for each month October-December Lavender cell-enter the appropriate line item in the order the information is provided in above instructions Green cells- formula & sheet reference Blue cells- Formula Tangerine cells-sheet reference/cell reference you should combine merchandise payments into one group in cash budget BEAUTIFUL GARDENS & MORE Cash Receipts Budget For October, November, & December October November December Total cash receipts BEAUTIFUL GARDENS & MORE Cash Budget For October, November, & December October November December $ Beginning cash balance* Cash Receipts Total cash available Payments for Merchandise $ $ $ $ Interest on bank loan $ $ ulu $ $ $ $ Preliminary cash balance Additional loan from bank Repayment of loan to bank Ending cash balance $ $ $ Loan balance, end of month
