- New assignment: "Assessment 2 X A Assessment 2 E BFIN650-Assessment 2-Spring 2 X oogle.com/forms/d/e/1FAIpQLSdx|3G6TZ-FUwnFrkUGT958rZQq_QgPkgyoPue4BTfDVNSWCw/formRespo Problem 3 Glass Co. is preparing its cash budget and its financial manager has forecasted sales revenues as shown below: Month August September October November December Sales $20,000 542,000 539,000 499,200 312,300 The company collects 55% of its sales immediately and 45% during the following month. Their payments for the time period August, September, October, November and December are divided as following: Payments are made in the same month of purchases as follow. Month August September October November Payments $300,500 250.300 232,900 240,400 December 220,600 Salaries expenses: $56,500 per month Rent expenses: $71,750 per month Capital expenditures: $105,000 in September only The beginning cash balance in January 2020 was $55,000. The minimum cash balance is $46,000 D assignment Assessment 2 X A Assessment 2 X TE BFIN650-Assessment m/forms/d/e/1FAIpQLSdxI3G6TZ-FUwnFrKUGT9581ZQq. QgPkgyoPue4BTfdVNSW 4. All of the above statements are incorrect, EXCEPT? a. The beginning cash balance of September has to be equal to $55,000 O b. The ending cash balance of November is equal to $288,460 O c. The total collections in December are less than those in October by $33,495 d. The total payments in August are equal to $483,550 O e. All of the above are correct. 5. What is the firm's loan requirement in September? 3 a. ($85,200) b. $85,200 O C($133,750) O d. $87,750 e. None of the above e. None of the above 6. The firm has a deficit in cash in all months EXCEPT: * a. August, October and November O b. August and December C. August, October and December d. October, November and December e. None of the above Back Next