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CBC company has provided the following estimates for the month of July 2021:   The cash balance first January 2021 $8,600 Credit sales                                                      68,400 Receipts from debtors                                    62,000 Wages incurred (90% paid)                                                    42,000 Office furniture purchased in cash 9,500 Purchase of office computer on credit    2,000 Utilities expenses paid                                      3,800 Accounts payable 500 Administrative expenses paid    29,000 Depreciation on office furniture    8,200 Received of loan                                              15,000 Credit purchase    59,200 Payments to creditors                                  48,600 Cash sales                                                      42,000     Required: Prepare a cash budget for the month of Jul

CBC company has provided the following estimates for the month of July 2021:   The cash balance first January 2021 $8,600 Credit sales                                                      68,400 Receipts from debtors                                    62,000 Wages incurred (90% paid)                                                    42,000 Office furniture purchased in cash 9,500 Purchase of office computer on credit    2,000 Utilities expenses paid                                      3,800 Accounts payable 500 Administrative expenses paid    29,000 Depreciation on office furniture    8,200 Received of loan                                              15,000 Credit purchase    59,200 Payments to creditors                                  48,600 Cash sales                                                      42,000     Required: Prepare a cash budget for the month of Jul

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 10RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...
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CBC company has provided the following estimates for the month of July 2021:

 

The cash balance first January 2021 $8,600
Credit sales                                                      68,400
Receipts from debtors                                    62,000
Wages incurred (90% paid)                                                    42,000
Office furniture purchased in cash 9,500
Purchase of office computer on credit    2,000
Utilities expenses paid                                      3,800
Accounts payable 500
Administrative expenses paid    29,000
Depreciation on office furniture    8,200
Received of loan                                              15,000
Credit purchase    59,200
Payments to creditors                                  48,600
Cash sales                                                      42,000

 

 

Required: Prepare a cash budget for the month of Jul

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