Mary's Dairy has the following information available for the preparation of the cash budget for the second quarter:
Cash balance, March 31 $ 15,000
Sales for April; all cash 220,000
Sales for May; all cash 330,000
Sales for June; all cash 440,000
Cost of Goods Sold is 80% of Sales; all cash
Operating expenses is 8% of Sales; all cash
Interest expense is paid in June 40,000
Income tax rate is 30%
The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter for this company. No additional equipment will be purchased this quarter.

Question

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The Answer of Mary's Dairy has the following information available for the preparation of the cash budget for the second quarter:
Cash balance, March 31 $ 15,000
Sales for April; all cash 220,000
Sales for May; all cash 330,000
Sales for June; all cash 440,000
Cost of Goods Sold is 80% of Sales; all cash
Operating expenses is 8% of Sales; all cash
Interest expense is paid in June 40,000
Income tax rate is 30%
The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter for this company. No additional equipment will be purchased this quarter.

Mary's Dairy Has the Following Information Available for the Preparation