Homework Sourse5 300 d Selling and ad 4 Prepare a Solution1 Expected cash c
5 300 d. Selling and ad 4. Prepare a
Solution
1) Expected cash collections for May (Amounts in $)
2) Expected cash disbursements for purchases for May (Amounts in $)
3)
Minden Company
Cash Budget
For the Month of May (Amounts in $)
4) Budgeted Income Statement for May (Amounts in $)
5) Budgeted Balance Sheet as of May 31 (Amounts in $)
| Cash Sales | 60,000 |
| Cash collected from Accounts receivable: | |
| April Accounts receivable | 54,000 |
| Credit sales of May [(200,000-60,000)*50%] | 70,000 |
| Total expected cash collections | 184,000 |
