Cash budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash...
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Accounting
Cash budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Management desires to maintain a minimum cash balance of $35,000. 1. Prepare a monthly cash budget and supporting schedules for September, October, and November. Assume 360 days per year for interest calculations
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