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Question: Prepare Cash Budget for Jan-June from the following information
(i) The estimated sales and expenses are as follows:
(ii) 20% of the sales are on cash and the balance on credit.
(iii) The firm has a gross margin of 25% on sales
(iv) 50% of the credit sales are collected in the month following the sales, 30% in the second month and 20% in the third month.
(v) Material for the sale of each month is purchased one month in advance on a credit for two month.
(vi) The time log in the payment of wages and salaries is one-third of a month and of miscellaneous expenses one month.
(vii) Debentures worth Rs. 40,000 were sold in January.
(viii) The firm maintains a minimum cash balance of Rs. 40,000. Funds can be borrowed @ 12% p.a. in the multiples of Rs. 1,000 the interest being payable on monthly basis.
(ix) Cash Balance at the end of December is Rs. 60,000.
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