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Johnplans to pay his supplier 60% in the month of purchase, and 40% in the following month. A 5% discount is granted on payments made in the monthin the month of purchase. However, Johnwill not be able to take any discounts on the September purchases because of cashflow constraints. All September purchases will be paid for in October.Johnhas 50 players on hand (purchased in August and to be paid in September), and plans to maintain enough end-of-month inventory to meet 60% of the next month's sales.John also wished to maintain a closing cash balance of $1,500 in the bank once the business commences in September. The current interest rate on short term loans is 3.5% pa.
Required:
Question 1: Construct schedules for monthly budgeted cash receipts & cash disbursements & the cash budget . During which month will Johnneed to organise a short-term loan & for how much?
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