Question

Part B                                          &n

Part B                                                                                                                   

Khloe’s Café has provided the following estimates relating to the first quarter of the financial year beginning 1st July 2020:

Cash Sales

$236,000

Credit Sales

$524,400

Receipts from Debtors

$329,000

Wages paid

$224,000

Café Furniture purchased

$79,600

Utilities paid

$29,800

Administration paid

$85,600

Depreciation of furniture

$2,890

Receipt of Loan

$80,000

Credit Purchases

$296,800

The cash balance at 1 July 2020 is expected to be $66,000.

Required

Prepare a cash budget for the quarter ending 30 September 2020.

Khloe’s Café

Cash Budget For the quarter ended 30 September 2020
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