Chapter 29, Problem 11PS

Cash budget Table 29.13 lists data from the budget of Ritewell Publishers. Half the company’s sales are for cash on the nail; the other half are paid for with a one-month delay.

TABLE 29.13 Selected budget data for Ritewell Publishers. See Problem 11.

TABLE 29.14 Cash budget for Ritewell Publishers. See Problem 11.

The company pays all its credit purchases with a one-month delay. Credit purchases in January were $30, and total sales in January were $180. Complete the cash budget in Table 29.14.