California Artichoke Growers (CAG) is a major food cooperative. Suppose CAG begins 2008 with cash of $4

Question:

California Artichoke Growers (CAG) is a major food cooperative. Suppose CAG begins 2008 with cash of $4 million. CAG estimates cash receipts during 2008 will total $97 million. Planned payments will total $95 million. To meet daily cash needs next year, CAG must maintain a cash balance of at least $5 million. Prepare the organization's cash budget for 2008.

Cash Budget
A cash budget is an estimation of the cash flows for a business over a specific period of time. These cash inflows and outflows include revenues collected, expenses paid, and loans receipts and payment. Its primary purpose is to provide the...