| Budgeted cash sales | 15,000 Don't use plagiarized sources. Get Your Custom Essay on budget 460776 For $10/Page 0nly | 18,000 | 16,000 |
| Budgeted credit sales | 20,000 | 21,000 | 22,000 |
| Budgeted inventory purchases | 22,000 | 24,000 | 28,000 |
| Budgeted selling and admin expenses | 3,000 | 2,000 | 2,500 |
| Credit sales are expected to be collected 60% in month of sale; 40% in month following | |||
| Inventory purchases are expected to be paid 50% in month of purchase; 50% in month following | |||
| All selling and admin expenses are expected to be paid in full in month incurred. Depreciation expense is | |||
| included in budget at $500 per month | |||
| Company budgets the purchase of equipment in February for $45,000 | |||
| Company maintains a minimum cash balance of $10,000 | |||
| Interest rate for any borrowings is 6%. Borrowings (and repayments) are always made on the last day of the month | |||
| Prepare a cash budget for January, February and March. |
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