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Posts: 2784
5 years ago
Iowa Supply, Inc. provides the following data taken from its third quarter budget:

   Jul   Aug   Sep
Cash collections   $81,000   $65,000   $56,000
Cash payments:         
Purchases of direct materials   52,000   28,000   30,000
Operating expenses   10,000   16,000   21,000
Capital expenditures   0   32,000   8,000

The cash balance on June 30 is projected to be $11,000. Based on the above data, calculate the cash balance the company is projected to have at the end of September.
A) $16,000
B) $19,000
C) $59,000
D) $75,000
Textbook 

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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5 years ago
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wrote...
5 years ago
Makes perfect sense, thx
wrote...
A month ago
Thank you
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