Homework Answers
Cash available for the month
= Beginning cash balance + Cash receipts from sales
= 56000 + (230,000*75%) = 228,500
Cash disbursements
= 108,000+78,000+18,000 = 204,000
Excess of cash available over disbursements
= 228,500 - 204,000 = 24,500
Excess (Shortage) = 24,500 - Desired ending balance 49,000
= 24,500 shortage
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