Question: please answer the question in table form. thanks 2.1. The following information is budgeted for Plumbing Company for next quarter: April May June Sales 110,000

please answer the question in table form. thanks
2.1. The following information is budgeted for Plumbing Company for next quarter: April May June Sales 110,000 130,000 180,000 Merchandise purchases 85,000 92,000 105,000 Selling & Administrative expenses 50,000 50,000 50,000 All sales at Plumbing are on credit. Forty percent are collected in the month of sale, 58% in the month following the sale, and the remaining 2% are uncollectible. Merchandise purchases are paid in full the month following the month of purchase. The selling and administrative expenses above include $8,000 of depreciation on display fixtures and warehouse equipment. All other selling and administrative expenses are paid as incurred. Plumbing wants to maintain a cash balance of $15,000. Any amount below this can be borrowed from a local bank as needed in increments of $2,000. All borrowings are made at month end. Required: Prepare Plumbing's cash budget for the month of May and June. Plumbing expects to have $24,000 of cash on hand at the beginning of MayStep by Step Solution
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