Business, 22.02.2020 02:49, DASASDAEDWEDA
Grenoble Enterprises had sales of $50,000 in March and
$60,000 in April. Forecast sales for May, June, and July are $70,000, $80,000, and
$100,000, respectively. The firm has a cash balance of $5,000 on May 1 and wishes
to maintain a minimum cash balance of $5,000. Given the following data, prepare
and interpret a cash budget for the months of May, June, and July.
(1) The firm makes 20% of sales for cash, 60% are collected in the next month,
and the remaining 20% are collected in the second month following sale.
(2) The firm receives other income of $2,000 per month.
Answers: 3
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Grenoble Enterprises had sales of $50,000 in March and
$60,000 in April. Forecast sales for Ma...
$60,000 in April. Forecast sales for Ma...
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