P.11.1 you have the following information about a restaurant in year 0007:

-actual sales revenue in November was $80,000.

-Actual purchases/cost of sales in November was $30,000.

Sales revenue will be 40% cash. Credit card sales revenue is 60% of sales, of which is 96% is collected in the month of cells; the remaining 4% is collected early in the following month. Purchases of inventory, 20% is paid in the month of purchase and the remaining 80% is paid in the month following the purchases. The condensed budget income statement for December, year 0007, follows: *see photo 1

The wages and operating expenses included in the budget income statement will be paid in December, year 0007. Rent was pre-paid in January for the entire year. Prepare a cash budget for the month of December, year 0007. November ending cash is $4800.

BOB LL have the following information about a restaurant in Year 0007: 1.1 You have the followi Actual sales revenue in November was $80,000. Actual purchases (cost of sales) in November was $30,000. Sales revenue will be 40% cash. Credit card sales revenue is 60% of sales, of which 96% is collected in the month of sales; the remaining 4% is collected early in the following month. Purchases of inventory, 20% is paid in the month of purchase and the remaing 80% is paid in the month following the purchases. The condensed budgeted income statement for December, Year 0007, follows: $75,000 Sales revenue Cost of sales Wages expense Operating expenses Rent expense Depreciation expense Total expenses Operating income $29,000 21,000 14,000 5,500 2.500 ( 72,000) $ 3,000 The wages and operating expenses included in the budgeted income statement will be paid in December, Year 0007. Rent was prepaid in January for the entire year. Prepare a cash budget for the month of December, Year 0007. November ending cash is $4,800