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Question 1: During December, the capital budget indicates a P280,000 purchase of equipment. The ending November cash balance is budgeted to be P40,000. Cash receipts are P840,000, and cash disbursements are P610,000 during December. The company wants to maintain a minimum cash balance of P20,000. What is the minimum cash loan that must be planned to be borrowed from the Bank during December?
a. P50,000
b. P10,000
c. P30,000
d. P0
Question 2: The following credit sales are budgeted by Polex Electronics:
January P124,000
February 120,000
March 135,000
April 140,000
May 142,000
The company's past experience indicates that 50% of the accounts receivable are collected in the month of sale, 30% in the month following the sale, and 18% in the second month following the sale. Two percent are uncollectible. How much does the company anticipate as cash receipts for March?
a. P122,300
b. P132,300
c. P125,820
d. P135,060
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