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of the year was very profitable, so Veronica paid herself a dividend of $17 800 in April. Veronica wants to maintain a minimum cash balance
of the year was very profitable, so Veronica paid herself a dividend of $17 800 in April. Veronica wants to maintain a minimum cash balance of $10000 and has established a line of credit so she can borrow enough money to make up any shortfall If the company has excess cash on hand at the end of a month (in excess of $10000), the line of credit will be paid back. Interest on the line of credit will not be paid until the end of the year. (Ignore any interest payments that the company would make on their borrowings.) REQUIRED a Prepare a cash receipts budget for April, May and June. b Prepare a cash disbursements budget for April, May and June. C Prepare a summary cash budget for April, May and June
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