Business, 06.05.2020 07:23, chloegrace359

Blue Spruce Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2022. January February Sales $360,700 $401,100 Purchases 121,500 131,400 Salaries 84,600 81,000 Administrative expenses 71,000 73,700 Selling expenses 79,000 86,900 All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred. Administrative expenses include $1,200 of depreciation per month. Other data. 1. Collections from customers: January $328,100; February $378,200. 2. Payments for purchases: January $111,400: February $144,900. 3. Other receipts: January: collection of December 31.2021, notes receivable $18,400; February: proceeds from sale of securities $5,500. 4. Other disbursements: February $13.000 cash dividend. The company's cash balance on January 1, 2022, is expected to be $47,400. The company wants to maintain a minimum cash balance of $45,910. Prepare a cash budget for January and February.

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Blue Spruce Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2...