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Please help! PLEASE SHOW EXCEL FORMULA (example: =b2/b3). Seeing how you got to your answer is crucial to my understanding! Below, some important figures from
Please help! PLEASE SHOW EXCEL FORMULA (example: =b2/b3). Seeing how you got to your answer is crucial to my understanding!
Below, some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2021 are shown. The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2021, credit sales were $245,300 and credit purchases were $149,300. Using this information, complete the following cash budget. \begin{tabular}{l|l|l|l|} \hline 19 & & & \\ \hline 20 & (Use cells A6 to D18 from the given information to complete this question.) \\ \hline 21 & & & \\ \hline 22 & Output Area: & & June \\ \hline 23 & & & \\ \hline 24 & Beginning cash balance & & \\ \hline 26 & Cash receipts & & \\ \hline 27 & Cash collections from credit sales & & \\ \hline 28 & Total cash available & & \\ \hline 29 & Cash disbursements & & \\ \hline 30 & Purchases & & \\ \hline 31 & Wages, taxes, and expenses & & \\ \hline 32 & Interest & & \\ \hline 33 & Equipment purchases & & \\ \hline 34 & Total cash disbursements & & \\ \hline 35 & Ending cash balance & & \\ \hline \end{tabular}Step by Step Solution
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