A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $7,000 to start each quarter. Fill in the missing amounts. Cash balance, beginning $6
Add collections from customers 112 401
Total cash available 85
Less disbursements:
Purchase of inventory 51 61 35
Selling and administrative expenses 45 30 117
Equipment purchases 14 9 26 59
Dividends 2 2 2 2
Total disbursements 117
Excess (deficiency) of cash
available over disbursements (4) 8
Financing:
Borrowings 15
Repayments (including interest) * (26)
Total financing
Cash balance, ending