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please answer all questions . Need ASAP Todd Enterprises is preparing a cash budget for the second quarter of the coming year. The following data

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Todd Enterprises is preparing a cash budget for the second quarter of the coming year. The following data have been forecasted: April $150,000 107,000 May $157,500 112,400 Sales Merchandise purchases Operating expenses Payroll Advertising Rent Depreciation End of April balances: Cash Bank loan payable 13,600 5,400 2,500 7,500 14,280 5,700 2,500 7,500 30,000 26.000 Additional data: (1) Sales are 40% cash and 60% credit. The collection pattern for credit sales is 50% in the month following the sale and 50% in the month thereafter. Total sales in March were $125,000. (2) Purchases are all on credit with 40% paid in the month of purchase and 60% paid in the following month (3) Operating expenses are paid in the month they are incurred. (4) A minimum cash balance of $25,000 is required at the end of each month. (5) Loans are used to maintain the minimum cash balance. At the end of each month, interest of 1% per month is paid on the outstanding loan balance as of the beginning of the month Repayments are made at the end of the month if the cash balance exceeds $25,000 Prepare the company's cash budget for May. Show the ending loan balance at May 31

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