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Prepare the cash payments section of the cash budget

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Question - Hyde Hotels Inc. is a major hotel chain in North America. Management has collected the following information regarding budgeted payments for the upcoming year:

Operating expenses are expected to be evenly distributed through the year at $138,800 each quarter.

New equipment is expected to be purchased for $506,000 in the first quarter. Half will be paid for in the second quarter and half will be paid for in the third quarter.

Dividends of $40,300 will be paid in the fourth quarter.

Required - Prepare the cash payments section of the 2020 cash budget (on a quarterly basis).

Reference no: EM133067721

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