Question: Develop a cash budget for the next three months using the information provided below. Monthly sales forecasts are $150,000, $180,000, and $60,000. The current month's

Develop a cash budget for the next three months using the information provided below.

Monthly sales forecasts are $150,000, $180,000, and $60,000.

The current month's sales are $120,000

Cost of goods sold equal 65% of sales

The cash position at the end of the current month is $80,000

The target cash balance is $50,000

Assume that 50% of sales are collected in the month sold and the remaining collected in the following month.

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