Prepare a master budget for the three-month period ending June 30. Include the f
ID: 2371790 • Letter: P
Question
Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets:
A schedule of expected cash collections from sales, by month and in total. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
A schedule of expected cash disbursements for merchandise purchases, by month and in total. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
A cash budget. Show the budget by month and in total. (Leave no cells blank - be certain to enter "0" wherever required. Deficiencies, repayments and interest should be preceded by a minus sign when appropriate. Total financing should be preceded by a minus sign when it consist of repayments and interest. Omit the "$" sign in your response.)
Requirement 1: (a) A sales budget, by month and in total. (Omit the "$" sign in your response.)Explanation / Answer
Morning. Ok well I went through some of the figures and think I did the budgeted cash disbursements for merchandise purchases correctly. I also started n on the 3 month cash budget. I am hungup now here. I understand that all money financed is to be paid in full in the following month. However as the mth of may unfolds I come to see that we have a surplus of cash this month ($76400) however when we pay back previous mth finance we are at a point of needing to finance money to cover next mth,