Cash receipts January February March $ 107,000 $ 113,000 $ 133,000 Cash payments For inventory purchases For S&A expenses 93,500 34,500 75,500 35,500 88,500 30,500 Franklin Medical had a cash balance of $11,500 on January 1. The company desires to maintain a cash balance of $6,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 2 percent per month Repayments may be made in any amount available. Franklin pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Required Prepare a cash budget. Note: Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. Cash Budget Section 1: Cash Receipts Answer is complete but not entirely correct. January February March

Cash Over and Short Miller Enterprises deposits the cash received during each day at the end of the day. Miller deposited $48,287 on October 3 and $50,116 on October 4. Cash register records and other documents supporting the deposits are summarized as follows:   10/3 10/4 Cash sales $36,690   $40,310   Collections on account 10,875   9,813   Total receipts $47,565   $50,123   Required: 1.  Calculate the amount of cash over or cash short for each day. Enter negative values as negative numbers.  2.  Prepare the journal entry to record the receipt and deposit of cash on October 3. For those boxes in which no entry is required  3.  Prepare the journal entry to record the receipt and deposit of cash on October 4. For those boxes in which no entry is required  4.  CONCEPTUAL CONNECTION: If you were the manager with responsibility over the cash registers, how would you use this information?

Rapid Delivery Services cash count at the end of the day totals $12,580 and the cash registertape shows $12,415. The amount of the change fund is $250. Rapid Delivery Services wouldrecord the revenue for the day as follows: a. Cash                                       12,580          Income from Services                         12,580 b. Cash                                       12,430        Cash Short and Over                                    15         Income from Services                           12,415 c. Cash                                       12,415         Income from Services                           12,415 d. Cash                                       12,415Cash Short and Over                         15Income from Services                                   12,430

Madison Company's cash ledger reports the following for the month ending March 31.   Date   Amount     No. Date   Amount     Deposits: 3/4 $ 1,400   Checks: 541 3/2 $ 5,700       3/11   1,700     542 3/8   700       3/18   3,700     543 3/12   3,000       3/25   3,500     544 3/19   1,500     Cash receipts: 3/26-3/31   2,100     545 3/27   700         $ 12,400     546 3/28   800               547 3/30   1,200     Balance on March 1 $  6,100         $ 13,600     Receipts   12,400                 Disbursements   (13,600 )               Balance on March 31 $ 4,900                   Information from March's bank statement and company records reveal the following additional information: The ending cash balance recorded in the bank statement is $6,970. Cash receipts of $2,100 from 3/26–3/31 are outstanding. Checks 545 and 547 are outstanding. The deposit on 3/11 included a customer's check for $410 that did not clear the bank (NSF check). Check 543 was written…