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Compile a cash budget with the following budget: Sales forecasts: January R4 000 000.00 February R5 000 000.00 March R3 000 000.00 April R2 000...
Compile a cash budget with the following budget:
Sales forecasts:
January R4 000 000.00
February R5 000 000.00
March R3 000 000.00
April R2 000 000.00
May R3 500 000.00
June R4 500 000.00
Credit sales are as follows:
.30% of sales are done in cash and the remainder on credit
.10% during the month of sale
.40% during the first month after the month of sale
The remainder is collected during the second month after the month of sale
Purchases amount to 60% of the sales value per month. All purchases are on credit and are paid as follows:
.30% one month after the purchase took place
.The remainder , the second month after the purchase took place...
Budget reflected R200 000 000.00 expenditure for the month of June. Balance brought down to R5 000 000.00 for March. A recommended minimum cash balance of R4 000 000.00 was maintained.
