Peachtree's Siding and Window Co. is a custom home improvement company. All sales are made on account: 30 percent of a month's sales are collected in the month of sale, 60 percent are collected in the month following the sale, and 8 percent are collected in the second month following the sale. Cash on hand on October 1 is estimated to be $32,000.Merchandise purchases and operating expenses are paid as follows:
Peachtree's Siding and Window Co.'s budgeted income statement for each of the next three months is as follows:
Prepare a cash budget for the month of October.

Question

Peachtree's Siding and Window Co. is a custom home improvement company. All sales are made on account: 30 percent of a month's sales are collected in the month of sale, 60 percent are collected in the month following the sale, and 8 percent are collected in the second month following the sale. Cash on hand on October 1 is estimated to be $32,000.Merchandise purchases and operating expenses are paid as follows:
Peachtree's Siding and Window Co.'s budgeted income statement for each of the next three months is as follows:
  Prepare a cash budget for the month of October.

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The Answer of Peachtree's Siding and Window Co. is a custom home improvement company. All sales are made on account: 30 percent of a month's sales are collected in the month of sale, 60 percent are collected in the month following the sale, and 8 percent are collected in the second month following the sale. Cash on hand on October 1 is estimated to be $32,000.Merchandise purchases and operating expenses are paid as follows:
Peachtree's Siding and Window Co.'s budgeted income statement for each of the next three months is as follows:
  Prepare a cash budget for the month of October.