Chapter 16 Cash Budget Concept Input Data Collections during month of sale Collections during month after sale Collections during second month after sale Lease payments Target cash balance General and administrative salaries Depreciation charges Income tax payments (July & October) Miscellaneous expenses Tractor Purchase (August) Cash on hand July 1 8% 79% 13% $28,900 $45,500 $110,000 $54,985 $42,000 $22,750 $115,000 $24,600 NO CASH DISCOUNT IS OFFERED IN THE MONTH OF SALE a. Prepare a monthly cash budget for the last six months of the 2020. May $428,400 $299,880 Original sales estimates Original labor and raw mat. estimates June $591,300 $413,910 July $578,900 $405,230 August $897,230 $628,061 September $1,001,500 $701,050 October $680,200 $476,140 November December $599,990 $201,350 $419,993 $140,945 January $176,400 Forecasted Sales Sales (gross) Collections During month of sale During 1st month after sale During 2nd month after sale Total collections Purchases Labor and raw materials Payments for labor and raw materials Chapter 16 Cash Budget Concept Input Data Collections during month of sale Collections during month after sale Collections during second month after sale Lease payments Target cash balance General and administrative salaries Depreciation charges Income tax payments (July & October) Miscellaneous expenses Tractor Purchase (August) Cash on hand July 1 8% 79% 13% $28,900 $45,500 $110,000 $54,985 $42,000 $22,750 $115,000 $24,600 NO CASH DISCOUNT IS OFFERED IN THE MONTH OF SALE a. Prepare a monthly cash budget for the last six months of the 2020. May $428,400 $299,880 Original sales estimates Original labor and raw mat. estimates June $591,300 $413,910 July $578,900 $405,230 August $897,230 $628,061 September $1,001,500 $701,050 October $680,200 $476,140 November December $599,990 $201,350 $419,993 $140,945 January $176,400 Forecasted Sales Sales (gross) Collections During month of sale During 1st month after sale During 2nd month after sale Total collections Purchases Labor and raw materials Payments for labor and raw materials