cash budget

Jane has provided the following information for the period 1 July 2015 to 31 December 2015:

Trade receivables and trade payables at 30 June 2015 were expected to be £80,000 and £70,000 respectively. Jane expects to sell 700 units in each of July and August, 800 units in September and 1,000 units in October. The selling price of each unit is calculated by adding a mark-up of 50% to the unit cost price of £100. 3. 20% of each month’s sales will be for cash and will be subject to a 5% cash discount. The remainder will be sold on credit and be paid for in the month following the month of sale. 4. Purchases in each month will be sufficient to meet the next month’s sales. They will be paid for in the month following the month of purchase and be subject to a 2% settlement discount. No other stocks will be held. Required:

Prepare the cash budget for the month ending December 2015

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