prepare cash budget for april-june with a beginning cash balance of $11,500.

Sales for Gilmore Corp are as follows: February $120,000, March $150,000, April $175,000, May $180,000, and June $190,000. Cash sales are 60% and Credit 40%. They collect 10% in the month of the sale, 80% in the month following the sale and the remaining 10%2 months following the sale. Gilmore purchases their raw materials in the month of the sale and pays for them the next month They are equal to 60% of sales. Other expenditures are $13,000 a month for rent, other expenses of $4,000 per month. The company plans a capital expenditure in May of Quarterly tax payments are made starting in March for $7,000. They have a balloon loan payment due in June for $100,000. Prepare a cash budget for April through June with a beginning cash balance of $11,500