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Question - BUDGETARY PLANNING - Cheskee, Inc. provided the following information:
July
August
Projected sales
P110,000
P130,000
Projected merchandise purchases
P75,000
P90,000
Cheskee estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts.
Cheskee pays 30% of merchandise purchases in the month purchased and 70% in the following month.
General operating expenses are budgeted to be P20,000 per month of which depreciation is P2,000 of this amount. Cheskee pays operating expenses in the month incurred.
Cheskee makes loan payments of P3,000 per month of which P400 is interest and the remainder is principal.
Required - Calculate Cheskee's budgeted cash disbursements for August.
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Directions: Be sure to make an electronic copy of your answer before submitting it to Ashworth College for grading. Financial Statement Analysis
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