Campton Company summarized the following information for May related to anticipated activity.
Anticipated cash balance on May 1 $ 75,600
Budgeted cash sales, May $ 54,000
Budgeted credit sales, May $ 450,000
Actual credit sales, April $ 405,000
Percentage of credit sales collected in current month 40%
Percentage of credit sales collected in following month 60%
Budgeted merchandise purchases, May $ 252,000
Actual merchandise purchases, April $ 216,000
Percentage of purchases paid for in current month 70%
Percentage of purchases paid for in following month 30%
Budgeted cash disbursments for salaries and operating expenses, May $ 148,500
Principal repayment due in May $ 22,500
Interest payment due in May $ 3,600
Income tax deposit due in May $ 18,000
Planned delivery truck purchase, May:
Cash $ 5,400
Note payable $ 7,200
Budgeted depreciation, May $ 450
Prepare a cash budget for the month ended May 31.
Do not use negative signs with any of your answers.
Campton Company
Cash Budget
For the Month Ended May 31
Cash receipts:
Cash disbursements: