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Redding Company Cash Budget

ReddingCompany Cash Budget

2. Redding Company has budgeted sales revenues as follows:

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June July August
Credit sales 135,000 145,000 90,000
Cashsales 90,000 255,000 195,000
Totalsales 225,000 400,000 285,000

Pastexperienceindicatesthat60%ofthecreditsaleswillbecollectedinthemonthofsaleandthe remaining40%willbecollectedinthe followingmonth.Purchasesofinventoryarealloncreditand50% ispaidinthemonthofpurchaseand50%inthemonthfollowingpurchase.Budgetedinventory purchasesare:

June 300,000
July 250,000
August 105,000

Othercashdisbursementsbudgeted:(a)sellingand administrativeexpensesof$48,000 each month,(b)

dividendsof$105,000 willbepaidinJuly,and(c) purchaseofequipmentin Augustfor$30,000 cash. Thecompanywishestomaintaina minimumcashbalanceof$50,000 attheendofeachmonth.



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