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Sheet Medical Supply has applied for a loan. First National Bank has requested a budgeted balance sheet as of April 30, and a combined
Sheet Medical Supply has applied for a loan. First National Bank has requested a budgeted balance sheet as of April 30, and a combined cash budget for April. As Sheet Medical Supply's controller, you have assembled the following information: (Click the icon to view the information.) Read the requirements Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. Beginning balance Cash inflows: Cash Cash sales Collections Cash outflows Payment of March liabilities Cash purchases Payments for April (credit) purchases
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