Patricks Retail Company is planning a cash budget for the next three months. Estimated sales revenue is
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Question:
Patricks Retail Company is planning a cash budget for the next three months. Estimated sales revenue is as follows:MonthSales RevenueMonthSales RevenueJanuary$ March$ FebruaryAprilAll sales are on credit; is collected during the month of sale, and is collected during the next month. Cost of goods sold is of sales. Payments for merchandise sold are made in the month following the month of sale. Operating expenses total $ per month and are paid during the month incurred. The cash balance on February is estimated to be $Prepare monthly cash budgets for February, March, and April.
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