Business, 01.11.2019 01:31 monsterduckgoose

Rigley company expects to have a cash balance of $46,000 on january 1, 2017. these are the relevant monthly budget data for the first two months of 2017. 1. collections from customers: january $71,000, february $146,000. 2. payments to suppliers: january $40,000, february $75,000. 3. wages: january $30,000, february $40,000. wages are paid in the month they are incurred. 4. administrative expenses: january $21,000, february $24,000. these costs include depreciation of $1,000 per month. all other costs are paid as incurred. 5. selling expenses: january $15,000, february $20,000. these costs are exclusive of depreciation. they are paid as incurred. 6. sales of short-term investments in january are expected to realize $12,000 in cash. rigley company has a line of credit at a local bank that enables it to borrow up to $25,000. the company wants to maintain a minimum monthly cash balance of $20,000. prepare a cash budget for january and february.

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Rigley company expects to have a cash balance of $46,000 on january 1, 2017. these are the relevant...

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