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Briefly explain how a cash budget works

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1. Briefly explain how a cash budget works and what it accomplishes with its last few lines of data.

2. Cooper Apple Growers (CAG) is a major food cooperative. Suppose CAG begins 2011 with cash of $8 million. CAG estimates cash receipts during 2011 will total $103 million. Planned payments will total $86 million. To meet daily cash needs next year, CAG must maintain a cash balance of at least $20 million. Prepare the organization's cash budget for 2011.

Reference no: EM13944042

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