Mcbride medical had a cash balance of 7000 on january 1 the

Reference no: EM13598381

McBride Medical Clinic has budgeted the following cash flows.

Janurary Febuary March
Cash receipts $101,000 $108,000 $125,000
Cash payments
For inventory purchases 92,000 72,000 83,000
For S&A expenses 30,000 32,000 26,000

McBride Medical had a cash balance of $7,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in the increments of McBride pays its vendor on the last day of the month also. The company had a $30,000 beginning balance in its line of credit liability account.

Required: Prepare a cash budget.

Reference no: EM13598381

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