Q#1 Use the following information to prepare a cash budget for the month ended on March 31 for Gado Merchandising Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31. Beginning cash balance on March 1, $72,000. Cash receipts from sales, $300,000. Budgeted cash disbursements for purchases, $140,000. Budgeted cash disbursements for salaries, $80,000. Other budgeted cash expenses, $45,000. Cash repayment of bank loan, $20,000.

Q#1 Use the following information to prepare a cash budget for the month ended on March 31 for Gado Merchandising Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31. Beginning cash balance on March 1, $72,000. Cash receipts from sales, $300,000. Budgeted cash disbursements for purchases, $140,000. Budgeted cash disbursements for salaries, $80,000. Other budgeted cash expenses, $45,000. Cash repayment of bank loan, $20,000.

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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