The following budgeted information is given for OCasey Ltd: It is expected that the cash balance at
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The following budgeted information is given for O’Casey Ltd:
It is expected that the cash balance at 1 May will be £800 overdrawn.
Ten per cent of purchases are expected to be for cash.
Creditors will be paid in the month following purchase.
Required
Prepare a cash budget for each of the three months ending 31 July.
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