Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of
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Question:
Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of :
April May June
Credit sales $ $ $
Credit purchases
Cash disbursements
Wages, taxes, and expenses
Interest
Equipment purchases
The company predicts that percent of its credit sales will never be collected, percent of its sales will be collected in the month of the sale, and the remaining percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.
In March credit sales were $ and credit purchases were $ Using this information, complete the following cash budget
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