Baker Manufacturing has projected sales of:
May $9,000
June $10,000
July $9000
August $15,000
September $10,000
Of these credit sales, 70% are collected the month after the sale and 30% are collected the second month after the sale.
Baker Manufacturing also projects its actual cash payments for each month as follows:
July $8,000
August $9,000
Septemeber $9,000
Baker's beginning cash balance on July 1 is $2,000
A. Prepare a Monthly Cash Receipt Schedule for July, AUgust and Septemeber (In a table & show work)
B. Prepare a Monthly Cash Flow Schedule for July, August and September (In a table & show work)
C. Prepare a Cash Budger (no loans currently exist) for July, August, and Septemeber