Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. a. The cash budget for March shows an ending loan balance of $16,000 and an ending cash balance of $55,800 b. The sales budget for March shows sales of $132,000. Accounts receivable at the end of March are budgeted to be 70% of March sales. c. The merchandise purchases budget shows that $90,200 in merchandise will be purchased on credit in March. Purchases on credit are paid 100% in the month following the purchase. d. Ending merchandise inventory for March is budgeted to be 720 units at a cost of $35 each. e. Income taxes payable of $27,200 are budgeted at the end of March. f. Accounting records at the end of March show budgeted equipment of $82,800 with accumulated depreciation of $33,400. g. Common stock of $31,000 and retained earnings of $58,400 are budgeted at the end of March. ZIMMER COMPANY Budgeted Balance Sheet As of March 31 < Prev 10 of 11 Next >