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    Oct 9, 2011, 05:56 AM
    Cas budgeting qestion
    How do prepare a cash budget for the months:
    Credit sales for July, $30,000, August 24,000, and September 18,000
    Cash sales July $18,000, August 51,000, and Sepember 39,000
    Total sales July $48,000, August 75,000, and Septbember $57,000

    Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are on credit and 50% is paid in the month of purchase and 50% in the month following purchase. Budgeted inventory purchases are $65,000 in Juyly, $45,000 in August, and $21,000 in September.

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