Supplementary Problem #1 The following data are available for the Sterling Corp.: (1) The cash...
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Accounting
Supplementary Problem #1 The following data are available for the Sterling Corp.: (1) The cash balance on January 1, 20X6 was $900. (2) Budgeted cash collections were as follows: anuary February March April $1,900 2,100 3,200 2,600 (3) Budgeted cash disbursements were as follows January February March April $1,500 2,350 2,200 3,100 (4) A minimum cash balance of $900 must be maintained throughout the budget period. (5) Loans outstanding at 12/31/20x5 were $350. (6) Assume that loan repayments are made in the month a cash excess curs Required: Prepare the cash budget for Sterling Corp. for January-April
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