The accountant for Ericas Dress Shop prepared the following cash budget. Ericas desires to maintain a cash cushion of $24,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required a. Complete the cash budget by filling in the missing amounts. (Any repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.)

b.

Determine the amount of net cash flows from operating activities Ericas will report on the third quarter pro forma statement of cash flows. (Enter any cash outflows with a minus sign. Round intermediate calculations and final answer to the nearest whole dollar amount.) Determine the amount of net cash flows from financing activities Ericas will report on the third quarter pro forma statement of cash flows. (Enter any cash outflows with a minus sign. Round intermediate calculations and final answer to the nearest whole dollar amount.)

The accountant for Erica's Dress Shop prepared the following cash budget. Erica's desires to maintain a cash cushion of $24,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month Required a. Complete the cash budget by filling in the missing amounts. (Any repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Cash Budget Jul August September Section 1: Cash receipts Beginning cash balance Add cash receipts 52,500 24,000 24,000 200,000 220,000260,600 252,500 244,000 284,600 Total cash available Section 2: Cash payments For inventory purchases For S&A expenses For interest expense 184,152 71,432 175,526 150,230 64,500 70,560 Total budgeted disbursements 240,026 Section 3: Financing activities Surplus (shortage) Borrowing (repayments) 12,474 11,526 Ending cash balance $ 24,000$ 24,000$ 24,000