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The controller of Bonita Company wants to improve the company's control system by preparing a month-by-month cash budget. The following information is for the month
The controller of Bonita Company wants to improve the company's control system by preparing a month-by-month cash budget. The following information is for the month ending July 31,2022 . "Dividends are payable 30 days after declaration to shareholders of record on the declaration date. Bonita Company wants to keepa minimum cash balance of 522,500 . (a) Prepare a cash budget for the month ended July 31, 2022, and indicate how much money if any, Bonita Company will need to bocrow to meet its minimum cash fequirement. Operating Expenses Receipts Payment of Dividends Selling and Administrative Expenses Beginning Cash Balance $9000 Excess of available cash over disbursements. Total Cash Available Repayments Ending Cash Balance Total Cash Disbursements Cash Collections Borrowings Sale of Equipment Equipment Purchase Cash Disbursements Merchandise Purchases Merchandise Purchases \begin{tabular}{|l|l|l|} \hline 105050 & 1 \\ \hline \end{tabular} Repavments Rebavmenis Receiots Ending Cash Balance
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