) Please don't use symbols such as commas and the dollar sign ($)when you write...
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) Please don't use symbols such as commas and the dollar sign ($)when you write your answers (Y) Best Buy wants to prepare a cash budget for months of August through October. Sales were 50000 in June and 70000 in July. Sales have been forecasted to be 65000, 82000, 93000, for months of August, September, October, respectively. In the past, 20 percent of sales were on cash basis, and the collection were 50 percent after one month and 30 percent after two months . 600 dollar of dividends from investments are expected to be received received in September. Purchases are 60 percent of sales, 15 percent of which are paid in cash, and he rest is paid one month after purchase. The monthly rent is 2000 dollars. Taxes are $6500 payable in August. A new equipment will be purchased in October for $2300. S 1000 loan payments are paid every month. Wages and salaries are $1000 plus 5 percent of sales in each month. July's ending cash balance is $3000. Best Buy would like to maintain a minimum cash balance of $10000
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