Cash budget
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Ledford Corporation has the following information available from various schedules to prepare its cash budget for the June:
Receipts:
Sales (terms 2/10, net 30): May $90,000, June $100,000, July $120,000
Collection pattern: 65% in month of sale, 70% take the discount
35% in month after sale
Income from investments: May $500; June $750; July $350
Disbursements: all expenses are paid for when incurred. Materials are purchased and paid for in the month before they are used.
Required:
Prepare the cash budget for June
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Response discusses the steps to prepare cash budget.
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Ledford Corporation has the following information available from various schedules to prepare its cash budget for the ...
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