. Here are some important figures from the budget of Nashville Nougats, Inc., for the...
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. Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2012: April May June Credit sales $ 327,000 $ 307,000 $ 367,000 Credit purchases 135,000 158,000 183,000 Cash disbursements Wages, taxes, and expenses 44,700 12,200 63,700 Interest 11,700 11,700 11,700 Equipment purchases 87,000 164,000 0 The company predicts that 5 percent of its credit sales will never be collected, 25 percent of its sales will be collected in the month of the sale, and the remaining 70 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2012, credit sales were $197,000 and credit purchases were $137,000. Using this information, complete the following cash budget:
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