Santos Company is preparing a cash budget for February. The company has $14,000 cash at the...

 

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Santos Company is preparing a cash budget for February. The company has $14,000 cash at the beginning of February and budgets $70,000 in cash receipts from sales and $112,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) SANTOS COMPANY Cash Budget February Beginning cash balance Total cash available Preliminary cash balance Loan activity Ending cash balance Loan balance, end of month Santos Company is preparing a cash budget for February. The company has $14,000 cash at the beginning of February and budgets $70,000 in cash receipts from sales and $112,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) SANTOS COMPANY Cash Budget February Beginning cash balance Total cash available Preliminary cash balance Loan activity Ending cash balance Loan balance, end of month