The president of the retailer Prime Products has just approached the company's bank with a request for a $32.000, 90 day loan. The purpose of the loan is to the companyin g inventore because the company has had some out in paying offs loans in the past the loan choked for a cabudget to he r w here should be made. The following data are able for the months Ar ough June, during which the loan will be used a. On April the start of the loan period, the cash balance will be $33.500. Accounts receivable on April 1 will total $142,800, of which $122.400 will be collected during April and $16.320 will be collected during May. The remainder will be uncollectible b. Past experience shows that 30% of a mont's sales are collected in the month of sale, 60% in the month following sale, and exin the second month following sa The other is bad deb t we never collected Budgeted sales and expenses for the three month period follow 375. 000 21.000 21.0 1 .500 34.900 c. Merchandise purchases we padu during the month following purchase Accounts for merchandise purchases during March, which will be paid in April total $153.500 d. in preparing the cash budget assume that the $32.000 loan will be made in April and readine terest on the ban wil total 800 Required pe c tors for 2. Prepare a cash budget, by month and into you and for the for the three-month period months into Complete this question by entering your answers in the tabs below. Saved Required equired Prepare a cash budget, by month and in total, for the three-month period. (Cash deficiency, repayments and interest show Indicated by a minus sign.) Prime Products Cash Budget Quarter Beginning cash balance Add receipts: Collections from customers Total cash available Less cash disbursements Merchandise purchases Payroll Lease payments Advertising Equipment purchases Total cash disbursements Excess cancy of cash available versbursements Francing Borrowings Repayments Ending cash balance Prey 1 of 1 !!! Next