You are working as a financial analyst for X Co. , and you prepared the following sales and cash disbursement estimates for the period August through December of the current year.

80% of sales are for cash, the remaining 20% percent are collected one month later. All disbursements are on a cash basis. The firm wishes to maintain a minimum cash balance of $50. The beginning cash balance in September is $25. Prepare a cash budget for the months of October, November, and December, noting any needed financing or excess cash available.

Please solve with calculation. Thx.

Month August September October November December Sales $400 500 500 600 700 Cash Disbursements $300 500 700 400 500