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Complete a cash budget for The Stars basketball team based on the following information.  Projected...

Complete a cash budget for The Stars basketball team based on the following information.  Projected Total Revenues: Q1=$800, Q2=$900, Q3=$950, Q4=$1000, 1 st quarter next yr. = $1000  Accounts Receivable (beginning) are equal to $450  50% of Revenues are cash sales  The rest of the revenues (50%) are collected in the following quarter  Beginning accounts payable are equal to $250  Purchases from vendors each quarter are 50% of next quarter sales  Payments to vendors are scheduled as: 70% in the quarter of the purchases from vendors and the balance of 30% in the following quarter.  Other expenses include: o Team and game expenses which are 30% of total revenues each quarter o Selling and promotional expenses which are 5% of total revenues each quarter o General and administrative expenses which are 7% of total revenues each quarter o Interest expense and taxes which are 6% of total revenues each quarter  The beginning cash balance is $120

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Cash Budget:

ekkarill92 answered 10 months ago
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