Recent and forecasted sales: October $280,000 December $161,000 February $413,000 April $280,000 November 168,000 January 378,000 March 273,000 1. Prepare a master budget including a budgeted income statement, balance sheet, cash budget, and supporting schedules for the months January-March 20X2. 2. Explain why there is a need for a bank loan and what operating sources provide the cash for the repayment of the bank loan.
Recent and forecasted sales: October $280,000 December $161,000 February $413,000 April $280,000 November 168,000 January 378,000 March 273,000 1. Prepare a master budget including a budgeted income statement, balance sheet, cash budget, and supporting schedules for the months January-March 20X2. 2. Explain why there is a need for a bank loan and what operating sources provide the cash for the repayment of the bank loan.
Recent and forecasted sales: October $280,000 December $161,000 February $413,000 April $280,000 November 168,000 January 378,000 March 273,000 1. Prepare a master budget including a budgeted income statement, balance sheet, cash budget, and supporting schedules for the months January-March 20X2. 2. Explain why there is a need for a bank loan and what operating sources provide the cash for the repayment of the bank loan.
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