You are working as a financial analyst for Y 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 step by step. Thx.

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