Business
Business, 13.04.2021 01:00, jess4kids

Piano Man, Inc., has a 50-day average collection period and wants to maintain a minimum cash balance of $30 million, which is what the company currently has on hand. The company currently has a receivables balance of $186 million and has developed the following sales and cash disbursement budgets in millions: Q1
Sales $351
Total cash disbursement $257
Q2
Sales $423
Total cash disbursement $364
Q3
Sales $504
Total cash disbursement $583
Q4
Sales $468
Total cash disbursement $390
Complete a cash budget for the company. (Do not round intermediate calculations and round all answers to the near whole million dollar amount.)

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Answers: 2

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Piano Man, Inc., has a 50-day average collection period and wants to maintain a minimum cash balance...

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