Prepare cash budget and cash inflows

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Reference no: EM13917552

Unified Path gives a $93,000 grant to Care for the Homeless at the start of its fiscal year on January 1. To expand its activities, Care for the Homeless also convinces the city, state, and county governments to give it additional funds for the year. The city will give $24,000, the state will give $88,000, and the county will give $50,000. The city pays its share in equal monthly installments after the month has ended (the payment for January arrives in February, and so on). The state pays 50% in the first month of the year and the balance equally over the remaining months. The county pays 10% of its outstanding balance each month with any balance paid in the last month. Prepare a cash budget for January, February, and March showing just the cash inflows for each month. I wann know the solution step by step

Reference no: EM13917552

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Prepare cash budget and cash inflows : Unified Path gives a $93,000 grant to Care for the Homeless at the start of its fiscal year on January 1. To expand its activities, Care for the Homeless also convinces the city, state, and county governments to give it additional funds for the year...

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