%24 Flint, Inc. provided the following information: July August Projected sales $236,000 $250,000 Projected merchandise purchases $144,000 $176,000 Flint estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. Flint pays for 30% of merchandise purchases in the month purchased and 70% in the following month. General operating expenses are budgeted to be $20,500 per month, including depreciation of $1,900. Flint pays operating expenses in the month incurred. Flint makes loan payments of $3,500 per month of which $600 is interest and the remainder is principal. Calculate Flint's budgeted cash disbursements for August. Budgeted Cash Disbursements $. eTextbook and Media Save for Later Attempts: 0 of 3 used Submitswer f4 f5 f12 64 prt s 91 23. %3D 5. 8.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![%24
Flint, Inc. provided the following information:
July
August
Projected sales
$236,000
$250,000
Projected merchandise purchases
$144,000
$176,000
Flint estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second
month following the sale. Three percent of all sales are estimated to be bad debts.
Flint pays for 30% of merchandise purchases in the month purchased and 70% in the following month.
General operating expenses are budgeted to be $20,500 per month, including depreciation of $1,900. Flint pays operating
expenses in the month incurred.
Flint makes loan payments of $3,500 per month of which $600 is interest and the remainder is principal.
Calculate Flint's budgeted cash disbursements for August.
Budgeted Cash Disbursements
$.
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23.
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5.
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