Mini-Exercise 14-7 (Algo) Cash budget LO 14-7 ABC Company has a cash balance of $32,000...
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Mini-Exercise 14-7 (Algo) Cash budget LO 14-7
ABC Company has a cash balance of $32,000 on August 1 and requires a minimum ending cash balance of $19,968. Cash receipts from sales budgeted for August are $255,968. Cash disbursements budgeted for August include inventory purchases, $32,000; other manufacturing expenses, $105,000; operating expenses, $52,000; bond retirements, $57,000; and dividend payments, $22,000.
Required:
Prepare a cash budget for ABC Company for August.
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