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Topper, Inc. prepared the following cash budget for the fourth quarter. Fill in the missing amounts, assuming that Topper desires to maintain a $15,000 minimum

Topper, Inc. prepared the following cash budget for the fourth quarter. Fill in the missing amounts, assuming that Topper desires to maintain a $15,000 minimum monthly cash balance and all equipment was purchased during December. Any required borrowings and repayments must be made in even increments of $1,000.

October

November

December

Quarter

Beginning cash balance

$enter a dollar amount $15,500 $enter a dollar amount $16,500

Collections from sales

55,000 enter a dollar amount enter a dollar amount 238,600

Total cash available

71,500 96,000 120,000 enter a total amount for the first part

Less disbursements

Materials purchases

enter a dollar amount 10,000 14,000 36,000

Direct labor

5,000 6,000 8,000 19,000

Manufacturing overhead

20,000 23,000 22,000 enter a dollar amount

Selling & administrative expenses

29,000 30,000 enter a dollar amount enter a dollar amount

Equipment purchase

enter a dollar amount 15,000

Dividends

5,000 5,000

Total disbursements

66,000 enter a total amount for section one enter a total amount for section one enter a total amount for section one

Excess (deficiency) of cash

enter a total amount for the second part 27,000 enter a total amount for the second part enter a total amount for the second part

Minimum cash balance

15,000 15,000 15,000 enter a dollar amount

Cash available (needed)

-9,500 enter a total amount for the third part 9,000 enter a total amount for the third part

Financing:

Borrowings

enter a dollar amount 10,000

Repayments

enter a dollar amount -10,000

Interest

-100 -100

Total financing

enter a total amount for section two -10,100 -100

Ending cash balance

$15,500 $16,900 $enter a total amount $enter a total amount

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