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The following information pertains to Amigo Corporation Sales $30,000 34,000 38,000 42,000 48.000 60,000 Purchases August September October November December $10,000 12,000 14,000 16,000 18,000
The following information pertains to Amigo Corporation Sales $30,000 34,000 38,000 42,000 48.000 60,000 Purchases August September October November December $10,000 12,000 14,000 16,000 18,000 20,000 Cash is collected from customers in the following manner: 45% Month of sale Month following sale Two months following sale Amount uncollectible 40% 10% 5% 50% of purchases are paid for in cash in the month of purchase, and the other 50% is paid the following month Required: Complete the cash budget for the 4th quarter October November December Beginlkeg Bolance: $30,000 Cash Colfections from August September October November December Total Cash Collections 07 Total Cash Available h) ? m) ? Cash Payments from: September October December Total Cash Payments a? n) ? Ending Cash Balance di
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