Slowinski Company Is Preparing Its Cash Budget for the Upcoming

Essay

Slowinski Company is preparing its cash budget for the upcoming year. It anticipates the following cash receipts and cash payments for the year:
Collections from customers $ 999,400
Operating expenses paid 360,000
Interest on investments 12,000
Proceeds from sale of machinery 45,000
Purchase of inventory 407,000
Payment of interest expense 14,000
Payment for land 75,000
Payment of long-term debt 23,000
Using the information above, prepare Slowinski's cash budget for the upcoming year. The cash balance at the beginning of the year is $46,400. The minimum cash balance according to management is $100,000.