just answer schedule 3 . cash budget (repayments ,, interest) Grading Rui × \\ G

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just answer schedule 3 . cash budget (repayments ,, interest)

Grading Rui × G On the follo × G Check my w X G Hillyard Cor , Google Tran x / x Connect Moticial Official C Secure | https://newconnect.mheducation.com/flow/connect.html Bonus Point 5 Saved Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: 5 points a. As of December 31 (the end of the prior quarter), the company's general ledger showed the following account balances eBook Cash Accounts receivable Inventory Buildings and equipment Accounts payable Common stock Retained earnings $ 50,000 208,000 59,250 360,000 References (net) $ 88,125 500,000 89,125 671250s 677250 Actual sales for December and budgeted sales for the next four months are as follows: b Next

Explanation / Answer

January February March Quarter

Financing:

Borrowings $81000 - - $81000

Repayments - - ($81000) ($81000)

Interest - - ($2430) (2430)

($81000* 0.01* 3 months)

Total Financing $81000 $0 ($83430) ($2430)

Note:- Borrowing is payable at end of quarter along with the interest at 1% per month

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