Here are some important figures from the budget of Nashville Nougats, Incorporated, for the second...
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Accounting
Here are some important figures from the budget of Nashville Nougats, Incorporated, for the second quarter of 2022:
| April | May | June | |
|---|---|---|---|
| Credit sales | $ 410,000 | $ 359,000 | $ 447,000 |
| Credit purchases | 187,000 | 175,000 | 208,000 |
| Cash disbursements | |||
| Wages, taxes, and expenses | 80,500 | 76,000 | 104,700 |
| Interest | 10,200 | 10,200 | 10,200 |
| Equipment purchases | 37,000 | 9,500 | 155,000 |
The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2022, credit sales were $337,000.
Using this information, complete the following cash budget.
Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.
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