Please complete a cash budget for Igor. Non-cash sales are given. 80% of Igor's sales are cash sales, 20% are collected one month later. Materials are ordered one month in advance, 10% paid at the time of purchase, 90% one month after purchase. Igor also has
2982 in taxes paid quarterly,
600 in January. Igor ended last year with
930. Igor likes to keep at least
3,680.00
2,116.00
5,290.00
15,870.00
26,450.00
3,174.00
4,232.00
2,116.00 Cash Sales (80%) Collection of A/R (20%) Total Cash Receipts Cash Disbursements Cost of Goods Sold (35% of sales; not cash) Order of CoGS (1 month in advance; not cash) Payment of CoGS (10% cash Payment of CoGS (remainder in 30 days) Selling, General, Administrative (
60 in January) Dividends (
2000) Surplus Cash (Deficit) Financing Required Ending Cash Balance Please complete a cash budget for Igor. Non-cash sales are given, 80% of Igor's sales are cash sales, 20% are Materials are ordered one month in advance, 10% paid at the time of purchase, 90% one month after purchase. Igor ended last year with
930. Igor likes to keep at least $2000 cash on hand at all times.