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    Master Budget

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    The country store is eager to prepare a budget for the next quarter, which is typically quite busy. She is most concerned with her cash position because she expects that she will have to borrow to finance purchases in anticipation of sales. She has gathered all the data necessary to prepare the simplified budget shown in Exhibit 7-6. In addition she will purchase equipment in April for $19,750 cash and pay dividends of 4,000 in June. Review the structure of the example in the chapter and then prepare The Country Store's master budget for the months of April, may and june.

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    We have to make the budget from the given situation. We are given the balance sheet of march, with the ending inventory. We use this formation to arrive at the level of desired ...

    Solution Summary

    The solution has the sales budget, collection budget and purchases budget for Country Store.

    $2.19

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