Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April $689,000 302,000 May $598,000 June $ 751,000 338,000 Credit sales Credit purchases Cash disbursements 282,000 Wages, taxes, and 137,000 129,000 179,000 expenses Interest 15,600 53,500 15,600 6,600 15,600 248,000 Equipment purchases The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019.
 
  April May June
  Credit sales   $ 689,000     $ 598,000     $ 751,000  
  Credit purchases     302,000       282,000       338,000  
  Cash disbursements                        
     Wages, taxes, and expenses     137,000       129,000       179,000  
     Interest     15,600       15,600       15,600  
     Equipment purchases     53,500       6,600       248,000  
 
 

The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000.

 

Using this information, complete the following cash budget: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) 
 

 

 

 

 

 

 

 

 

Here are some important figures from the budget of Crenshaw, Inc., for the second
quarter of 2019.
April
$689,000
302,000
May
$598,000
June
$ 751,000
338,000
Credit sales
Credit purchases
Cash disbursements
282,000
Wages, taxes, and
137,000
129,000
179,000
expenses
Interest
15,600
53,500
15,600
6,600
15,600
248,000
Equipment purchases
The company predicts that 5 percent of its credit sales will never be collected, 35
percent of its sales will be collected in the month of the sale, and the remaining 60
percent will be collected in the following month. Credit purchases will be paid in the
month following the purchase. In March 2019, credit sales were $561,000.
Transcribed Image Text:Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April $689,000 302,000 May $598,000 June $ 751,000 338,000 Credit sales Credit purchases Cash disbursements 282,000 Wages, taxes, and 137,000 129,000 179,000 expenses Interest 15,600 53,500 15,600 6,600 15,600 248,000 Equipment purchases The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000.
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