Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April May June Credit sales $689,000 $598,000 $751,000 Credit purchases 302,000 282,000 338,000 Cash disbursements: Wages, taxes, and expenses 137,000 129,000 179,000 Interest 15,600 15,600 15,600 Equipment purchases 53,500 6,600 248,000 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000. Using this information, complete the following cash budget: April MAY JUNEBeginning cash balance 182,000 Cash receiptCash Collection from the credit saleTotal cash available Cash Disbursement Purchase $289,000 Wages, Taxes, and expenses Interest Equipment purchases Total cash Disbursement Ending cash balance

Answer and Explanation:

The presentation of the cash budget for the three months is shown below:

Particulars                April           May               June  

Beginning

cash balance          $182,000  $264,650     $434,150  

Add:

Cash receipts :    

Credit sales

collections             $577,750  $622,700      $621,650  

Total cash

available                $759,750  $887,350      $1,055,800  

Less:

Cash disbursements  

Purchases              -$289,000 -$302,000    -$282,000  

Wages, Taxes

and expenses        -$137,000   -$129,000     -$179,000  

Interest                    -$15,600    -$15,600        -$15,600  

Equipment

purchases                -$53,500    -$6,600         -$248,000  

Total

cash disbursements  -$495,100  -$453,200    -$724,600  

Ending

cash balance              $264,650   $434,150       $331,200  

Working Notes:

Cash collection from credit sales    

Particulars           March        April        May            June

Credit sales         $561,000  $689,000 $598,000 $751,000

Cash collected :    

35% cash collected

in month of sales $196,350 $241,150  $209,300  $262,850

60% cash collected

in following month

of sales                 $0           $336,600   $413,400  $358,800

Total cash

collected from sales            $577,750  $622,700  $621,650

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

it is a i took the test.