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Agarwal, Incorporated, has a $30-$day average collection period and wants to maintain a minimum cash balance of $\backslash (\backslash$$ $20\backslash )$ million, which is what the company currently has on hand. The company currently has a receivables balance of $\backslash (\backslash$$ $193\backslash )$ million and has developed the following sales and cash disbursement budgets $($in millions$)$:

$5$

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$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$AGARWAL$,$ INCORPORATED$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{$Cash Budget$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{5\}\{|$c$|\}\{($in millions$)\}\backslash \backslash$

$\backslash$hline & Q$1$ & Q$2$ & Q$3$ & Q$4\backslash \backslash$

$\backslash$hline Beginning receivables & & & & $\backslash \backslash$

$\backslash$hline Sales & $414$ & $486$ & $567$ & $531\backslash \backslash$

$\backslash$hline Cash collections & & & & $\backslash \backslash$

$\backslash$hline Ending receivables & & & & $\backslash \backslash$

$\backslash$hline Total cash collections & & & & $\backslash \backslash$

$\backslash$hline Total cash disbursements & $352$ & $439$ & $686$ & $434\backslash \backslash$

$\backslash$hline Net cash inflow & & & & $\backslash \backslash$

$\backslash$hline Beginning cash balance & & & & $\backslash \backslash$

$\backslash$hline Net cash inflow & & & & $\backslash \backslash$

$\backslash$hline Ending cash balance & & & & $\backslash \backslash$

$\backslash$hline Minimum cash balance & & & & $\backslash \backslash$

$\backslash$hline Cumulative surplus $($deficit$)$ & & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Mc

Graw

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