You have been assgned the task of putting together a statement for the Deer Company that shows its expected inflows and outflows of cash over the months of July $2020$ through December $2020.$ The following data has been given to you so that a cash budget can be prepared.

Expected gross sales for May through December are listed below as well as the miscellaneous expenditures during the months July through December:

Month Sales Miscellaneous Expenditures

May $$360,000$

June $$200,000$

July $$300,000$ $$15,000$

August $$455,000$ $$30,000$

September $$600,000$ $$25,000$

October $$550,000$ $$30,000$

November $$400,000$ $$35,000$

December $$700,000$ $$50,000$

of the sales in any given month are collected during that month. However, the firm has a credit policy so factor a $3\%$ discount into the current month's sales collection

of the sales in any given month are collected the following month after the sale

of the sales in any given month are collected during the second month following the sales

$65\%$ of the expected sales during the following month

of its current month's raw materials purchases are paid in the following month

of the current month's expected sales are paid in wages and salaries on a monthly basis

of the current month's expected sales are made in monthly lease payments

of sales amounts to the monthly advertising expense

of sales are allocated in the months August, September, and October for R&D Expenditures

will be paid in December as prepayment for insurance for the following year.

will be paid in September for taxes.

will be paid in December for taxes

is the beginning cash balance in July

is the target cash balance each month

Display all values in whole numbers, no decimal places

Deer Company

Cash Budget

July$-$December

May June July August September October November December

Forecast sales $-------$

Cash sales

Lagged $1$ month

Lagged $2$ months

Total Cash receipts

Raw Materials Purchases

Raw materials payment

Wages and Salaries

Lease payments

Advertising expense

R&D Expenditures

Insurance prepayment

Taxes

Total cash disbursements

Net cash flow

Add: Beginning cash

Ending cash

Less: Minimum cash balance

Required total financing $($notes payable$)$

Excess Cash balance $($marketable securities$)$

Display all values in whole numbers, no decimal places Total