Question: Create a cash budget for March using the assumptions below. Round your calculations to whole numbers (no decimal places). - Collections: 60% cash sales, 38%

 Create a cash budget for March using the assumptions below. Round

Create a cash budget for March using the assumptions below. Round your calculations to whole numbers (no decimal places). - Collections: 60% cash sales, 38% of sales collected 1 month later, and 2% are written off as bad debt. - Inventory purchases: 55% of next month's sales; 70% paid at the time of purchase and 30% paid one month after purchase. - Wages: $16,500/ month - Sales Commissions: 15% of collectible sales paid 1 month after the revenue is earned - Rent: $3,000/ month - Lease for Office Equipment: $800/ month - Utilities: $400/ month - February ending (and unadjusted) cash=$15,000 - Minimum cash balance =$5,000 Sales for February through April: February $48,000 March $32,000 April $30,000

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