Cullumber Industries is preparing its cash budget for the third quarter of the current year....
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Accounting
Cullumber Industries is preparing its cash budget for the third quarter of the current year. Sales for the third quarter are budgeted at $$ per month Sales are cash, with the remaining on credit which is collected in the month following the month of sale. On June the cash balance is $ and the Accounts Receivable all related to June sales balance is $ Operating expenses for the quarter are budgeted at $ which includes $ of depreciation. Cash expenses are paid in the month incurred. Cash purchases for merchandise inventory are budgeted at $ for the quarter. To prepare for the busy fourth quarter, Cullumbers desired cash balance on September is $ How much financing will the company need at the end of the third quarter?
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$
$
$
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