Reference no: EM13871244
Worldwide company has forecast sales revenues and purchases for the last 5 months of 20xx to be As follows:
August sales 25,000 purchases 17,000
September 15,000 purchase 19,500
October sales 25,000 purchases 29,000
November sales 30,000 purchases 20,000
December sales 26,000 purchases 24,000
Sixty five percent of sales are on credit. On the basis of past experience, 50% of the accounts receivable is collected the month after the sales and the remainder are collected two months after the sale. Purchases are paid 30 days after they are incurred. The firm had a cash balance of $5000 as of September 30, and its minimum required cash balance is 4,000. It had no beginning loan balance. Prepare a cash budget for October November and December
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