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Crawford Company is constructing its cash budget. December sales were $5,900. Monthly sales are expected to be $5,000 in January, $5,400 in February, and $4,800 in March. 40% of its customers pay in the first month and take the 2% discount, while the remaining 60% pay in the month following the sale and do not receive a discount. The firm has no bad debts. Purchases for the next month’s sales are constant at 50% of the projected sales for the current month. “Other payments,” which include wages, rent and taxes, are 25% of sales for the current month. Construct a cash budget for the quarter.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92843304

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