This is a 9 Part Question. All the answers are wrong but the given information is correct. I just need help finding all the information for the boxes that are blank and have red in them. I know it is a lot but and I would like to thank whoever in advance for helping me. Thank you!
Cash budget-Basic Grenoble Enterprises had sales of $49,500 in March and $59,800 in April. Forecast sales for May, June, and July are $69,800, $80,300, and $99,600, respectively. The firm has a cash balance of $4,600 on May 1 and wishes to maintain a minimum cash balance of $4,600. Given the following data, prepare and interpret a cash budget for the months of May, June, and July. (1) The firm makes 17% of sales for cash, 61% are collected in the next month, and the remaining 22% are collected in the second month following sale. (2) The firm receives other income of $2,400 per month. (3) The firm's actual or expected purchases, all made for cash, are $49,600, $70,200, and $80,000 for the months of May through July, respectively. (4) Rent is $3,400 per month. (5) Wages and salaries are 10% of the previous month's sales. (6) Cash dividends of $2,500 will be paid in June. (7) Payment of principal and interest of $4,100 is due in June. (8) A cash purchase of equipment costing $5,600 is scheduled in July. (9) Taxes of $6,000 are due in June. Complete the first month of the cash budget for Grenoble Enterprises below: (Round to the nearest dollar. Please input all the values in the table before checking your answers.) March April May Sales $ 49,500 $ 59,800 $ 69,800 Cash sales 8,415 10,166 $ $ Lag 1 month Lag 2 months Other income $ $ $ $ Total cash receipts March April May Disbursements Purchases Rent (49,900) (3,500) (6,578) Wages and salaries Dividends Principal and interest Purchase of new equipment $ Taxes due $ 0 Total cash disbursements $ (59,978) (Round to the nearest dollar. Please input all the values in the table before checking your answers.) March April May 1,242 Net cash flow $ 4,700 Add: Beginning cash Ending cash $ 5,942 Minimum cash 4,700 Required total financing (notes payable) 0 Excess cash balance (marketable securities) $ 1,242 Complete the second month of the cash budget for Grenoble Enterprises below: (Round to the nearest dollar. Please input all the values in the table before checking your answers.) April May June Net cash flow (23,128) 5,942 Add: Beginning cash Ending cash (17,186) Minimum cash 4,700 Required total financing (notes payable) 21,886 0 Excess cash balance (marketable securities) complete the third month of the cash budget for Grenoble Enterprises below: (Round to the nearest dollar. Please input all the values in the table before checking your answers.) May June July Sales 69,600 $ 80,100 $ Cash sales $ 99,900 15,984 48,060 16,704 Lag 1 month $ Lag 2 months $ Other income $ 2,300 Total cash receipts 83,048 (Round to the nearest dollar. Please input all the values in the table before checking your answers.) May lune July May June July Disbursements Purchases Rent (80,400) (3,500) (8,811). Wages and salaries $ Dividends 0 Principal and interest $ 0 Purchase of new equipment (6,100) Taxes due $ 0 Total cash disbursements (98,811) (Round to the nearest dollar. Please input all the values in the table before checking your answers.) May June Net cash flow $ July (15,763) (17,186) (32,949) $ Add: Beginning cash Ending cash Minimum cash 4,700 $ $ Required total financing (notes payable) 37,649 0 Excess cash balance (marketable securities) The firm should establish a credit line of at least $ 37,649, but may need to secure three to four times this amount based on scenario analysis. (Round to the nearest dollar.)
