American Public University Operations And Supply Chain Management Assignment Help - accounting-cash budget

Question - Tait Company has the following information for the month of June: a. Beginning cash balance on June
1 was $94,500. b. Cash receipts from sales have the following pattern: 40% is collected in the month
of sale 50% is collected in the next month 5% is collected in the second month after the sale 5% is
uncollectible. c. The following are the actual and budgeted amounts of sales: April (actual) $540,000
May (actual) 720,000 June (budgeted) 630,000 d. Payments on purchases are 50% in the month of
purchase and 50% in the month following the purchase. The following actual and budged amounts of
merchandise purchases are known: May (actual) $270,000 June (budgeted) 405,000 e. Budged cash
disbursements for salaries in June are $180,000. f. Bud ...Read More geted amortization expense for June is
$9,000. g. Other cash expenses budgeted for June are $48,000. h. Accrued income taxes due in June
are $101,250. i. Bank loan interest due in June is $6,750. Required: Prepare a cash budget for Tait
Company for the month of June. ...Read Less

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