x Walter Company Has The Follox Home YOSEF C ezto.mheducation.com/hm.tpx ACCOUNT

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x Walter Company Has The Follox Home YOSEF C ezto.mheducation.com/hm.tpx ACCOUNTING HW Ch 8 instructions I help Question 3 (of 4) Save & Submit Time remaining: 2:2945 2.00 points E8-16 Preparing Cash Budget LO 8-4] Walter Company has the following information for the month of March: Cash balance, March 1 Collactions from customers Paid to suppliers S 19,320 46.500 24,300 B,100 9250 6.200 Direct labor Selling and administrative expenses Walter pays all expenses in the month incurred. Manufacturing overhead includes $2,200 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Walter also expects to buy a piece of property for $9,000 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $20,000. Required: Prepare Walter's cash budget for the month of March. Beginning Cash Balance Budgeted Cash Receipts Budgated Cash Payments Preliminary Cash Balance Cash Borrowed Ending cash balance Hints References cBook & Resources

Explanation / Answer

Cash budget :

Beginning balance 19320 Budgeted cash receipts 46500 Budgeted cash payments 54650 Preliminary cash balance 11170 Cash borrowed 9000 Ending cash balance 20170

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