Calculate Cheskee budgeted cash disbursements for August

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Question - BUDGETARY PLANNING - Cheskee, Inc. provided the following information:

 

July

August

Projected sales

P110,000

P130,000

Projected merchandise purchases

P75,000

P90,000

Cheskee estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts.

Cheskee pays 30% of merchandise purchases in the month purchased and 70% in the following month.

General operating expenses are budgeted to be P20,000 per month of which depreciation is P2,000 of this amount. Cheskee pays operating expenses in the month incurred.

Cheskee makes loan payments of P3,000 per month of which P400 is interest and the remainder is principal.

Required - Calculate Cheskee's budgeted cash disbursements for August.

Reference no: EM133044267

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