Use the following information:Beginning cash balance on March 1, $72,000. Cash receipts from sales, $300,000. Budgeted cash payments for direct materials, $140,000. Budgeted cash payments for direct labor, $80,000. Other budgeted cash expenses, $45,000. Cash repayment of bank loan, $20,000. Prepare a cash budget for the month ended on March 31 for Gado Company. The budget should show expected cash receipts and cash payments for the month of March and the balance expected on March 31
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