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the following: a. Cash balance on October 1 is $980. b. Actual sales for August and September are as follows: August September $6,000 $4,800 60,000 62,000 $66,000 $66,800 Cash sales Credit sales Total sales c. Credit sales are collected over a three-month period: 45 percent in the month of sale, 36 percent in the next month, and 16 percent in the second month after the sale. The remaining sales are uncollectible. d. Inventory purchases average 70 percent of a month's total sales. Of those purchases, 40 percent are paid for in the month of purchase. The remaining 60 percent are paid for in the following month. e. Salaries and wages total $4,000 per month. f. Rent is $3,150 per month. g. Taxes to be paid in October are $1,635. h. LeeAnn usually withdraws $3,500 each, month as her salary. 1. Advertising is $1,500 per month. j. Other operating expenses total $3,700 per month. k. Internet and telephone fees are $320 per month. LeeAnn tells you that she expects cash sales of $5,200 and credit sales of $63,000 for October. She likes to have $3,000 on hand at the end of the month and is concerned about the potential October ending balance. Required: Prepare a cash budget for October. Include supporting schedules for cash collections and cash payments. Round your intermediate computations and final answers to the nearest dollar. Wooster Sporting Goods Store Cash Budget For the Month of October 980 Beginning cash balance Collections: Cash sales Credit color..

the following: a. Cash bilanceren octuber 1 is 390 . b. Actial sales for August and Stetember are as followst remairing sales are uncollectible. the Jollowing menth. c. Sularies and nages listal $4,000 per monthr. 6. Fint is 13,150 per month. 0. Taus to he sisd in octuber are 11,615 . h. Ledne usually withdraw 17,500 each mersh as her wary. L. Intarnet and telechone fres ars 1920 ger morath. motectial Octider ending balance. iteauired heartst dollar

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