# Budget of cornell, inc | Business & Finance homework help

Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2013:
April May June
Credit sales \$ 547,200 \$ 570,240 \$ 630,720
Credit purchases 211,680 252,720 288,450
Cash disbursements
Wages, taxes, and expenses 57,240 69,422 72,432
Interest 16,416 16,416 16,416
Equipment purchases 119,520 131,040 0
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 2013, credit sales were \$302,400, and credit purchases were \$224,640. Use the above information to complete the following cash budget. (Do not round intermediate calculations. Leave no cells blank – be certain to enter “0” wherever required.)
April May June
Beginning cash balance \$ 403,200 \$
Cash receipts
Cash collections from credit sales
Total cash available \$
Cash disbursements \$
Purchases \$
Wages, taxes, and expenses Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2013:
April May June
Credit sales \$ 547,200 \$ 570,240 \$ 630,720
Credit purchases 211,680 252,720 288,450
Cash disbursements
Wages, taxes, and expenses 57,240 69,422 72,432
Interest 16,416 16,416 16,416
Equipment purchases 119,520 131,040 0
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 2013, credit sales were \$302,400, and credit purchases were \$224,640. Use the above information to complete the following cash budget. (Do not round intermediate calculations. Leave no cells blank – be certain to enter “0” wherever required.)
April May June
Beginning cash balance \$ 403,200 \$
Cash receipts
Cash collections from credit sales
Total cash available \$
Cash disbursements \$
Purchases \$
Wages, taxes, and expenses
Interest
Equipment purchases
Interest
Equipment purchases \$

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