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Built tight is preparing its master budget for the quarter ending September 30, 2017 ....

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Accounting

Built tight is preparing its master budget for the quarter ending September 30, 2017 . budgeted sales and cash payments for product cost for the quarter follow sales are 20% cash and 80% loan credit I'll credit sales are collected in the month following the sale the June 30 balance sheet includes balances of 15,000 in cash 44,300 in Accounts Receivable 3800 in accounts payable and 4300 balance in loans payable and minimum cash balance of $15,000 is required loans are obtained at the end of any month when I cash shortage occurs interest is one percent per month based on the beginning of the month loan balance and is paid it each month then if an excess balance of cash exist loans are repaid at the end of the month operating expenses are paid in the month incurred and consist of sales commissions 10% of salesOffice salaries 3300 per month in rent 5800 per month
budget sales for july 55500
august 71500
september 56500

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