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problem: Eddie's Bar & Restaurant Supplies expects its revenues & payments for the first part of the year to be:























70% of the company's sales are on credit. Past experience shows that 40% of accounts receivable are collected in the month after sale, & remainder is collected in 2nd month after sale. Make a schedule of cash receipts for March, April, & May. Eddie's pays its payments in following month. Eddie's had a cash balance of $2,000 on March 1, which is also its minimum required cash balance. There is an outstanding loan of $2,000 on March 1. Make a cash budget for March, April, & May.


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