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Cash budgeting The following information is available from the financial records of Albury Ltd: Sales $72000 66000 60000 78000 Purchases $42000 48000 36000 54 000-70 Receipts from customers are normally 70 per c 20 per cent in the month following the sale, ard 9 per centin the second month of sale, Albury takes full advantage of the 2 per cent discount allowed on purchases paid for by the 10thsak day of the following month. Purchases for August are budgeted at S60000, and sales for August are forecast at $66000. moneyfollowingadvantageofta ou expectedtotalowedonpie.hasespaido.mmaa d 2 a Cash payments for expenses (other than purchases) are expected to be $14 400Tor the month of August. Albury cash balance on 1 August was $22000. [. Cash Receipts,硼77 bbovn Required: Prepare a cash budget for Albury for August that includes: Expected cash receipts during August. 2 Expected cash payments during August. 3 Expected cash balance on 31 August. ovo x(1-2%)-14yoo Payments:
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