La Salle University BUS 207 - Managerial Accounting Homework Assignment #4 The Fraley Company, a...
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La Salle University BUS 207 - Managerial Accounting Homework Assignment #4 The Fraley Company, a merchandising firm, has planned the following sales for the next four months March April May June All of Fraley Company's sales are on account. From experience, the company has learned that a month's sales are collected according to the following pattern First month following month of sale Second month following month of sale Uncollectible 70% 2090 8% 2% The company requires a minimum cash balance of $4,000 to start a month. If Fraley Company has a cash balance less than $4,000, they will borrow enough cash to get to a $4,000 balance. If they have a cash balance greater than $4,000 they will invest the amount over $4,000. Assume the following budgeted data for June: $52,000 $10,000 $8,000 $15,000 $4,000 Selling and administrative expenses Required Prepare a cash budget in good form for June using Excel. Clearly show any borrowing needed during the month. The company can borrow in any dollar amount, but will not pay any interest until the following month. Upload the Excel spreadsheet by Monday December 4, 2017 at 12:50
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