The following information is for Woodys Sales company for the second quarter of 200X. APRIL...
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The following information is for Woodys Sales company for the second quarter of 200X. APRIL MAY JUNE TOTAL Budgeted receipts from credit sales $10,100 $10,900 $12,100 $33,100 Budgeted cash sales 2,000 1,800 1,700 5,500 Budgeted cash payments 12,200 13,600 11,700 37,500 Beginning cash balance for April 200X is expected to be $2,600. The company intends to maintain a cash balance of at least $2,000. The company has made arrangements to borrow from a local bank if necessary to meet the minimum cash requirement. Required: Prepare a cash budget for the second quarter of 200X
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