Crane Company management wants to maintain a minimum monthly cash balance of $20,000. At the beginning of April, the cash balance is $20,000, expected cash receipts for April are $196,000, and cash disbursements are expected to be $204,000.
How much cash, if any, must be borrowed to maintain the desired minimum monthly balance?
Amount to be borrowed to maintain the desired minimum monthly balance $
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Crane Company estimates that unit sales will be 8,000 in quarter 1, 11,200 in quarter 2, 12,000 in quarter 3, and 14,400 in quarter 4. Using a unit selling price of $68 per unit.
Prepare the sales budget by quarters for the year ending December 31, 2022.
CRANE COMPANY Sales Budget
Quarter
1 2 3 4
$ $ $ $ $
$ $ $ $ $