Required: Prepare the cash budget for February in an excel spreadsheet.

Time sensitive

A A Aa A 3 21 A Bbcd AaBbcod AaBbc AaBbcc Aab ABCD Aabend Aalced Ara Normal - *, * A2A. EEEE... 1 No Spac.. Heading 1 Heading 2 Title Subtitle Subtle Em.. Emphasis tense Paragraph Styles Burge Corporation is preparing a cash budget for the first two months of the coming year. The following data have been forecasted: Sales Purchases January S950,000 650, 000 February $2,000,000 6 80,000 Operating expenses: Payroll Advertising 166,500 32.700 167.000 53.800 11.750 20,000 Rent 11.750 20,000 Depreciation End-of-January balances Cash Bank loan 80.000 350.000 Additional data: (1) Sales are 40% cash and 60% credit. The term of credit sales is 2/10, 1/30. The collection pattern for credit sales is 60% in the month following the month of sale (of which 80% are collected within 10 days) and 40% in the month thereafter. Total sales in December of the prior year were $1.200,000 (2) Purchases are all on credit, with 40% paid in the month of purchase and the balance the following month. (3) Operating expenses are paid in the month incurred. (4) The firm desires to maintain a minimum cash balance of $125,000 at the end of each month. (5) Loans are used to maintain the minimum cash balance. At the end of each month, interest of 1per month is paid on the outstanding loan balance as of the beginning of the month. Repayments are made (at the end of the month) whenever the cash balance exceeds $125.000 Search