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ecure https connect.htm gle welcome to Peters, D Logn-American P, D AMU da Heath Frs, Colorad - COLORADO PEAK Check my work mode : This shows what is correct or incorrect for the work you have com Here are some important figures from the budget of Comel, Inc, for the second quarter of 2017 Credit sales Credit purchases Cash disbursements 0 323,009 5383,000 $363,09 131,800 154,00 179,080 ages, taxes, and expenses 44, 30011,800 63,300 11,3011,30,3 83,6e0156,000 The company predicts that 5 percent of its credit sales will never be collected, 45 percent of its sales will be collected in the month of the sale, and the remaining 50 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase In March 2017, credit sales were $193,000, and credit purchases were S133,000. Using this information complete the following cash budget (Do not round intermediate calculations. 26,000 A Segloning cash balance Cash receipes Cess collections froe credit sales 163350 O 400 0 tquspeent purchases

Solution

Working

	April	May	June
Beginning Cash Balance	126000	96250	84000
Cash Receipt
Cash Collection from Credit Sales	241850	297850	314850
Total Cash Available	367850	394100	398850
Cash Disbursement
Purchase	133000	131000	154000
Wages,taxes and expense	44300	11800	63300
Interest	11300	11300	11300
Equipment Purchase	83000	156000	0
Total Cash Disbursement	271600	310100	228600
Ending Cash Balance	96250	84000	170250