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The cash budget for Permai Process Meats, Inc. for the fourth quarter of 2020 is given below: Cash Budget for the Three Months Ending December
The cash budget for Permai Process Meats, Inc. for the fourth quarter of 2020 is given below: Cash Budget for the Three Months Ending December 31, 2020 Cash receipts October November December Total collections RM31,050.00 RM 4,050.00 RM49,950.00 Cash disbursements: Purchases 44,550.00 48,600.00 52,650.00 Wages and salaries 7,425.00 7,425.00 7,425.00 Other expenses 2,025.00 1,350.00 675.00 Taxes 17,415.00 Total disbursements RM54,000.00 RM57,375.00 RM78, 165.00 The expected sales for the period are as follows: Oct.: RM86,400.00 Nov.: RM91,800.00 Dec.: RM83,700.00 The total depreciation expense for the period will be RM8,775.00. An interest payment on outstanding debt of RM15,000.00 will be made in December. Using the information given, REQUIRED : Construct a pro forma income statement for the final quarter of 2020 for Permai
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