QS 20-20 Cash receipts, with uncollectible accounts LO P2 The Guitar Shoppe reports the following sales forecast August, $190,000; and September, $210,000. Total sales include 35% cash sales, 55% of credit sales collected in the month following sale, and the remaining 10% credit sales written off as uncollectible. Prepare a schedule of cash receipts for September THE GUITAR SHOPPE Cash Receipts Budget For Month Ended September 30 Cash receipts from August sales Cash receipts from September sales Total budgeted cash receipts $ QS 20-23 Budgeted loan activity LO P2 Santos Co. is preparing a cash budget for February. The company has $14.000 cash at the beginning of February and anticipates $71,000 in cash receipts and $116,000 in cash payments during February. What amount, if any, must the company borrow during February to maintain a $5,000 cash balance? The company has no loans outstanding on February 1 (Negative cash balances, if any, should be indicated with minus sign.) SANTOS CO. Cash Budget For Month Ended February 28 Beginning cash balance Total cash available Preliminary cash balance Ending cash balance Use the following information: a. Beginning cash balance on March 1, $74,000. b. Cash receipts from sales, $301,000. c. Budgeted cash payments for direct materials, $132,000. d. Budgeted cash payments for direct labor, $78,000. e. Other budgeted cash expenses, $40,000. f. Cash repayment of bank loan, $15,000. Prepare a cash budget for the month ended on March 31 for Gado Company. The budget should show expected cash receipts and cash payments for the month of March and the balance expected on March 31. GADO COMPANY Cash Budget For Month Ended March 31 Total cash available Cash payments for: Total cash payments 0 $ 0