Hurzdan, Inc., has a 50-day average collection period and wants to maintain a minimum cash balance of $40 million, which is what the company currently has on hand. The company currently has a receivables balance of $195 million and has developed the follo
Hurzdan, Inc., has a 50-day average collection period and wants to maintain a minimum cash balance of $40 million, which is what the company currently has on hand. The company currently has a receivables balance of $195 million and has developed the following sales and cash disbursement budgets (in millions): |
| Q1 | Q2 | Q3 | Q4 | |||||||||||||
| Sales | $ | 432 | $ | 504 | $ | 585 | $ | 549 | ||||||||
| Total cash disbursement | 290 | 441 | 686 | 455 | ||||||||||||
Complete the following cash budget for the company. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers in millions rounded to the nearest whole million dollar amount, e.g., 32.) |
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