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Lindor Enterprises projects sales for the first three months of the year to be: $10,900...

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Accounting

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Lindor Enterprises projects sales for the first three months of the year to be: $10,900 in January, $12,000 in February, and $13,000 in March. Cash receipts are expected to be: $8,400 in January, $11,680 in February, and $12,920 in March. They anticipate the following cash payments: All costs are paid in the month incurred except direct materials, which are paid in the month following the purchase, utilities, which are paid in the month after incurred, and property taxes. which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1. Also, Lindor Enterprises beginning cash balance is $3,000 and they desire to maintain a minimum ending cash balance of $3,000. Lindor Enterprises borrows cash as needed at the beginning of each month in increments of $900 and repays the amounts borrowed in increments of $900 at the beginning of months when excess cash is available. The interest rate on borrowed amounts is 6% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Complete a Cash Budget for Lindor Enterprises. Lindor Enterprises Cash Budget For the Quarter Ending March 31

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