Asked by Shakia Balmer on Apr 24, 2024
Romeiro Corporation is preparing its cash budget for September. The budgeted beginning cash balance is $46,000. Budgeted cash receipts total $160,000 and budgeted cash disbursements total $152,000. The desired ending cash balance is $70,000. The company can borrow up to $120,000 at any time from a local bank, with interest not due until the following month.Required:Prepare the company's cash budget for September in good form.
Cash Budget
A financial plan that estimates cash inflows and outflows over a specific period, helping businesses manage their cash resources.
Budgeted Cash Disbursements
An estimate of all cash payments that a business plans to make over a specific period, including expenses, purchases, and other payouts.
- Project cash receipts and payments to construct a budget for cash resources.
Learning Objectives
- Project cash receipts and payments to construct a budget for cash resources.
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