Cash Hash » Cash Hash » Cash Back » Accounting help - Penelope, Ltd.?

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: Hi there, trying to get a better grasp on Cash Budgeting for account and would like some help with this problem. If possible, please show work. Thanks for the help!


All sales are on credit. Records show that 80 percent of the customers pay during the month of the sale, 15 percent pay the month after the sale, and the remaining 5 percent pay the second month after the sale. Purchases are all paid the following month at a 1 percent discount. Cash disbursements for operating expenses in July were $8,000.

Prepare a cash budget for July.

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