Problem 16-16 Cash Budget [LO3]

Piano Man, Inc., has a 30-day average collection period and wants to maintain a minimum cash balance of $20 million, which is what the company currently has on hand. The company currently has a receivables balance of $190 million and has developed the following sales and cash disbursement budgets in millions:

	Q1				Q2				Q3				Q4
Sales		$	387			$	459			$	540			$	504
Total cash disbursement			336				413				652				413

Required:

Complete the following cash budget for the company. (Do not round intermediate calculations. Negative amounts should be indicated by a minus sign. Enter your answers in millions of dollars. Round your answers to the nearest whole million dollar amount (e.g., 32).)

PIANO MAN, INC. Cash Budget (in millions)
	Q1	Q2	Q3	Q4
Beginning receivables	$	$	$	$
Sales	387	459	540	504
Cash collections
Ending receivables	$	$	$	$
Total cash collections	$	$	$	$
Total cash disbursements	336	413	652	413
Net cash inflow	$	$	$	$
Beginning cash balance	$	$	$	$
Net cash inflow
Ending cash balance	$	$	$	$
Minimum cash balance	$	$	$	$
Cumulative surplus (deficit)	$	$	$	$

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