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Home Q & A Board Other Fields Homework Help Business Accounting
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LiChan LiChan
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7 years ago
The following information was provided for Holcomb Company for the first quarter of 2007.

Budgeted      January   February   March
Receipts from credit sales   $10,000   $15,000   $16,000
Cash sales   7,000   7,250   8,000
Cash payments   18,400   24,000   25,500

The beginning cash balance for January 2007 is expected to be $4,500. Holcomb expects to maintain a cash balance of at least $2,000 at all times and if necessary, a line of credit has been established with the local bank.

REQUIRED:
Prepare a cash budget for the first quarter of 2007.
Textbook 
Survey of Accounting: Making Sense of Business

Survey of Accounting: Making Sense of Business


Edition: 1st
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hol23hol23
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LiChan Author
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7 years ago
Wow!
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