Problem - Wild Bill & Company estimates the following for 2018:
Sales (all on account) $800,000
Collections of accounts receivable 700,000
Proceeds from bond issuance 500,000
Proceeds from sale of common stock 300,000
Merchandise bought on credit 650,000
Payments of accounts payable 500,000
Cash payments of expenses 70,000
Cash purchase of equipment 140,000
Depreciation of equipment 15,000
Payment on notes payable 30,000
The ending cash balance for 2017 was $200,000.
Make a cash budget to determine the ending cash balance for 2018?