Using the following information:a. Beginning cash balance on March 1, $77,000.b. Cash receipts from sales, $300,000.c. Cash payments for direct materials, $139,000.d. Cash payments for direct labor, $72,000.e. Cash payments for overhead, $43,000.f. Cash payments for sales commissions, $7,000g. Cash payments for interest, $120 (1% of beginning loan balance of $12,000)h. Cash repayment of loan, $12,000.Prepare a cash budget for March for Gado Company.GADO COMPANYCash BudgetMarchTotal cash availableLess: Cash payments forTotal cash paymentsPreliminary cash balanceLoan activityEnding cash balanceLoan balance, end of month

A cash budget is an estimation of the cash inflows and outflows for a business over a specific…

· Beginning cash balance on March 1, $77 . Cash receipts from sales, $300,000. . Cash payments for direct materials, $139 Cash payments for direct labor, $72,000 -. Cash payments for overhead, $43,000. . Cash payments for sales commissions,

· Beginning cash balance on March 1, $77 . Cash receipts from sales, $300,000. . Cash payments for direct materials, $139 Cash payments for direct labor, $72,000 -. Cash payments for overhead, $43,000. . Cash payments for sales commissions,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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