Please check the answer twice before posting Sheridan Design provided the following budgeted information for April through July:AprilMayJuneJulyProjected sales$118560 $140220 $131100 $150480Projected merchandise purchases $93480 $104880 $88920 $75240The cash balance on June 1 is $13680. The company pays 40% of merchandise purchases in the month purchased and 60% in thefollowing month. General operating expenses are budgeted to be $35340 per month of which depreciation is $3420 of this amount.Management pays operating expenses in the month incurred. The company makes loan payments of $4560 per month of which $684is interest and the remainder is principal. How much are budgeted cash disbursements for June?$134976.$98496.O $117192.$72048.

Step 1: Calculation of cash disbursement in the month of June. JuneJune, Amount of purchase paid in…

Answered: Sheridan Design provided the following…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter4: Financial Planning And Forecasting

Section: Chapter Questions

Problem 5P

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