The cash balance, May 31, 20x4, is $ 15.000. Sales proceeds are collected as follows: 80% the month od sale, 10% the second month, and 10% the third month. Accounts receivable are $44.000 on May 31, 20x4, consisting od $20.000 from April sales and $24.000 from May sales. Accounts payable on May 31, 20x4, are $145.000. Carlson Company pays 25% of purchases during the month of purchase and the remainder during the following month.  All operating expenses requiring cash are paid during the month of recongnition, except that insurance and property taxes are paid annually in December for the forthcoming year. Prepare a cash budget for June Confine your analysis to the given data. Ignore income taxes.            Exhibit 7-13, Carlson Company - Budgetes Income Statement for the Month Ended June 30, 20x4 (in thousands)                                                                                                                                                        Sales     $290 Inventory, May 31  $50 Purchases  192 Available for sale  242 Inventory, June 30  40 Cost of goods sold  202 Gross margin  88 Operating expenses Wagnes  $36 Utilities  5 Advertising  10 Depreciation  1 Office expenses  4 Insurance and property taxes 3 Operating expenses 59 Operating income $29

Cash budget                                                                                                  Consider the budgeted income statement for Carlson Company for June 20X4 in Exhibit 7-13.
The cash balance, May 31, 20x4, is $ 15.000. Sales proceeds are collected as follows: 80% the month od sale, 10% the second month, and 10% the third month. Accounts receivable are $44.000 on May 31, 20x4, consisting od $20.000 from April sales and $24.000 from May sales. Accounts payable on May 31, 20x4, are $145.000. Carlson Company pays 25% of purchases during the month of purchase and the remainder during the following month.  All operating expenses requiring cash are paid during the month of recongnition, except that insurance and property taxes are paid annually in December for the forthcoming year. Prepare a cash budget for June Confine your analysis to the given data. Ignore income taxes.           

Exhibit 7-13, Carlson Company - Budgetes Income Statement for the Month Ended June 30, 20x4 (in thousands)                                                                                                                                                       

Sales     $290
Inventory, May 31  $50
Purchases  192
Available for sale  242
Inventory, June 30  40
Cost of goods sold  202
Gross margin  88
Operating expenses
Wagnes  $36
Utilities  5
Advertising  10
Depreciation  1
Office expenses  4
Insurance and property taxes 3
Operating expenses 59
Operating income $29