Homework Answers
Answer:
Expected cash collection:
=beginning account receivable+sales-closing account receivable
=210000+950000-240000
=$920000
Cash budget:
Beginning cash balance=$230000
Add estimated cash receipts=$920000
Total cash avlaible for use=$1,150,000
Less cash disbursement=$1,080,000
cash surplus/deficit=$70,000
expected cash balance=$70,000
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