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Cash budget-Basic Grenoble Enterprises had sales of $50,000 in March and $60,400 in April Forecast sales for May June and Judy are 570.100 579 500 and $99.500 pectly The fem has a cash bace of $4,700 on May 1 and wishes to maintain a minimum cash balance of $4.700. Given the following date, prepare and interpret a cash budget for the months of May and July (1) The frm makes 17% of sales for cash, 50% are collected in the next month, and the remaining 25% are collected in the second month following al (2) The firm receives other income of $2.400 per month 3) The firm's actual or expected purchases, all made for cash, are $50,200, 570.500, and 300.500 for the months of May through July, spectively (4) Rent is $2.500 per month (5) Wages and salaries are 11% of the previous month's sales (6) Cash dividends of $3.200 will be paid in June (7) Payment of principal and interest of $3.900 is dus in June (8) A cash purchase of equipment coating $5.900 is scheduled in July (9) Taxes of $6.200 are due in June Cash budget-Basic Grenoble Enterprises had sales of $50,000 in March and $60,400 in April Forecast sales for May June and Judy are 570.100 579 500 and $99.500 pectly The fem has a cash bace of $4,700 on May 1 and wishes to maintain a minimum cash balance of $4.700. Given the following date, prepare and interpret a cash budget for the months of May and July (1) The frm makes 17% of sales for cash, 50% are collected in the next month, and the remaining 25% are collected in the second month following al (2) The firm receives other income of $2.400 per month 3) The firm's actual or expected purchases, all made for cash, are $50,200, 570.500, and 300.500 for the months of May through July, spectively (4) Rent is $2.500 per month (5) Wages and salaries are 11% of the previous month's sales (6) Cash dividends of $3.200 will be paid in June (7) Payment of principal and interest of $3.900 is dus in June (8) A cash purchase of equipment coating $5.900 is scheduled in July (9) Taxes of $6.200 are due in June