Cash budgeting for Birtle Apple Company, a merchandising firm, is done on a monthly basis....
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Cash budgeting for Birtle Apple Company, a merchandising firm, is done on a monthly basis. The company is planning its cash needs for the third quarter of 20X5, and the following information is available to assist in preparing a cash budget. Additional information relating to the preparation of the budgets is attached. Budgeted income statements for July through October 20X5 are also attached. REQUIRED: Prepare a cash budget for Birtle Apple Company for the months of July, August, and September, and in total for the three months. Include on the budget an analysis of bank borrowings and repayments on their line of credit required to maintain their minimum cash balance. Round all calculations to the nearest whole dollar
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