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Exercise 14-13 Preparing a cash budget LO 14-5 The accountant for Erica's Dress Shop prepared...

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Exercise 14-13 Preparing a cash budget LO 14-5 The accountant for Erica's Dress Shop prepared the following cash budget Erica's desires to maintain a cash cushion of $22,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 2 percent per month Required a. Complete the cash budget by filing in the missing amounts. (Any repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Section 1: Cash receipts 51,500 Beginning cash balance Add cash receipts 98,000 218,000 258,600 Total cash available Section 2: Cash payments For inventory purchases For S&A expenses For interest expense 74,526 149,230 183.152 63,500 69,56070,432 Total budgeted disbursements 238,026 Section 3: Financing activities Surplus (shortage) Borrowing (repayments) 11.474 10,526 Ending cash ballance S 22,000 S 22,000 22.000 EFSC Additional Sy pdf ^ EFSC Additional Sy pdf ^ 0 Type here to search

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