COMPLETE IN EXCEL ABC Electrical Supplies Ltd. has presented the following projections for income...
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Accounting
COMPLETE IN EXCEL
ABC Electrical Supplies Ltd. has presented the following projections for income and expenses: Notes: i) Collections from credit customers are normally 70% in the month of sale and 30% in the following month. ii) Purchases are 60% of the purchases are paid in the month purchased and the otherh 40% in the following month iii) Advertising expense is paid in the month incurred. ix2) Braceeds from the sale of fixed assets are expected to be received a month later. v) All other expenses are paid in the month incurred. via The closing cash balance at June 30,2023 is expected to be $215,000. Required: Prepare a cash budget for the quarter ending Sept 30, 2023
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