Prepare Cash Budget from Budgeted Transactions

Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $97,000 on May 1, 2019. The following budgeted transactions for May 2019 present data related to anticipated cash receipts and cash disbursements:

1. For May, budgeted cash sales are $73,000 and budgeted credit sales are $513,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance collected in the month following sale.

2. Budgeted merchandise purchases for May are $293,000. (Merchandise purchases in April were $240,000.) In the month of purchase, 70% of merchandise purchases are paid for, and the balance is paid for in the following month.

3. Budgeted cash disbursements for salaries and operating expenses for May total $178,000.

4. During May, $25,000 of principal repayment and $4,000 of interest payment are due to the bank.

5. A $20,000 income tax deposit is due to the federal government during May.

6. A new delivery truck will be purchased during May for $7,800 cash and an $8,000 note payable. Depreciation for May will be $560.

Prepare a cash budget for Campton Company for the month of May 2019.

Campton Company Cash Budget For the Month Ended May 31, 2019
Beginning cash balance		Answer
Cash receipts:
Cash sales		Answer
Collections on credit sales		Answer
Cash available		Answer
Cash disbursements:
Payments for merchandise		Answer
Salaries and operating expense payments		Answer
Principal and interest payment		Answer
Income tax deposit		Answer
Payment on truck		Answer
Total cash disbursements		Answer
Ending cash balance		Answer