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Please do it on paper, not on excel. Thank you! 3. You are working as a financial analyst for XYZ Co. , and you prepared
Please do it on paper, not on excel. Thank you!
3. You are working as a financial analyst for XYZ Co. , and you prepared the following sales and cash disbursement estimates for the period August through December of the current year. Month August September October November December Sales $400 500 500 600 700 Cash Disbursements $300 500 700 400 500 80% of sales are for cash, the remaining 20% percent are collected one month later. All disbursements are on a cash basis. The firm wishes to maintain a minimum cash balance of $50. The beginning cash balance in September is $25. Prepare a cash budget for the months of October, November, and December, noting any needed financing or excess cash availableStep by Step Solution
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