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Hudsons Breakfast Caf is a small caf near a park. Management has asked that a cash budget be prepared for the upcoming year. The following is the companys budgeted information for the 2020 fiscal year.

	Q1	Q2	Q3	Q4	Year
Sales (all on credit)	$32,000	$25,700	$34,500	$41,800	$134,000
Food Inventory Purchases	14,400	11,565	15,525	14,630	56,120
Wages Expense	12,800	10,280	13,800	12,540	49,420
Rent Expense	2,600	2,600	2,600	2,600	16,080
Depreciation Expense	3,200	2,570	3,450	4,180	13,400

Additional information is as follows:

Hudson requires the ending cash balance for each period to be at a minimum of $5,000. The ending cash balance

at Q4-2019 was $5,350.

All sales are on credit. The collection pattern for sales is 80% in the quarter of sale, 20% in the following quarter.

There were no outstanding accounts receivable as at Q4-2019.

Food inventory is paid for in full in the quarter following the purchase.

The total purchases in Q4-2019 were $9,200.

All other expenses will be paid in full in the quarter they are budgeted for.

Equipment costing a total of $15,000 is to be purchased in the year; $8,000 will be paid in Q2 and $7,000 in Q3.

Dividend payments of $3,000 are to be paid in Q3 and $3,500 in Q4.

Hudson has an open line of credit that is used for any borrowings the company may need. Any borrowings are

done in multiples of $1,000.

Complete a schedule of cash receipts for the 2020 fiscal year.

Hudsons Breakfast Caf Schedule of Cash receipts For the Year ending december 31, 2020
	Q1	Q2	Q3	Q4	Year

Prepare a cash budget for the 2020 fiscal year.

Hudsons Breakfast Caf Cash Budget For the Year ending december 31, 2020
	Q1	Q2	Q3	Q4	Year

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