Using the following information: a. Beginning cash balance on March 1, $81,000. b. Cash receipts from sales, $305,000. c. Cash payments for direct materials, $130,000. d. Cash payments for direct labor, $79,000. e. Cash payments for overhead, $38,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $130 (1% of beginning loan balance of $13,000) h. Cash repayment of loan, $13.000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments 2$ Loan activity Loan balance, end of month %24

Using the following information: a. Beginning cash balance on March 1, $81,000. b. Cash receipts from sales, $305,000. c. Cash payments for direct materials, $130,000. d. Cash payments for direct labor, $79,000. e. Cash payments for overhead, $38,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $130 (1% of beginning loan balance of $13,000) h. Cash repayment of loan, $13.000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments 2$ Loan activity Loan balance, end of month %24

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 12EB: Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the...

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On April 30, Holden Company had an Accounts Receivable balance of $18,000. During the month of May. total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13.000. What was the amount of credit sales during May? O $52,000. O $32,000. O $47,000. $57,000. O 55,000.
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Answer all Questions. Ch.5-1
Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the month of purchase with the remaining balance pad the month after purchase. Prepare a cash payment schedule for March if in January through March, it purchased $35,000, $37,000, and $39,000, respectively.
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