Business, 16.04.2020 19:12 XDESOCR

Consider the following third-quarter budget data for TAP & Brothers: TAP & Brothers Third-Quarter Budget Data July August September Credit Sales 251,626 264,369 282,021 Credit Purchases 97,191 112,369 136,291 Wages, Taxes, and Expenses 26,256 31,886 33,701 Interest 7,356 7,748 8,062 Equipment Purchases 54,415 61,189 0 The company predicts that 4% of its credit sales will never be collected, 30% of its sales will be collected in the month of the sale, and the remaining 66% will be collected in the following month. Credit purchases will be paid in the month following the purchase. In June, credit sales were $138,570, and credit purchases were $102,752 July’s beginning cash is $184,343 If TAP maintains a policy of always keeping a minimum cash balance of $75,000 as a buffer against uncertainty and forecasting errors, what is the cash surplus/deficit at the end of the quarter (i. e., end of September)?

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Consider the following third-quarter budget data for TAP & Brothers: TAP & Brothers Third-Qu...

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