Question: Mitchell, Inc. needs to develop a cash budget for Q1 2020. Sales in January, February and March are expected to be $20,000, $22,500 and $24,650

Mitchell, Inc. needs to develop a cash budget for Q1 2020. Sales in January, February and March are expected to be $20,000, $22,500 and $24,650 respectively. 30% of all sales are paid cash. 50% of sales are paid within 1 month and 20% are paid within 2 months. The company spends $14,000 a month to operate the business. Create the cash budget for Q1 2020.

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