Save Prepare a one-month cash budget for April and calculate the amount of financing required to cover any deficit. Assume Actts receivable is collected 7% current month, 63% first month after sales and 30% second month after sales. Accts payable is paid 50% the month after cost-of-sales and 50% the second month after cost-of-sales. Fixed operating expense of $130,000 is incurred each month. GP is 47%. Show your calculations
JAN $300,000
FEB $250,00
MARCH $265,000
APRIL $235,000