Hurzdan, Inc., has a 32-day average collection period and wants to maintain a minimum cash balance of $20 million, which is what the company currently has on hand. The company currently has a receivables balance of $236 million and has developed the following sales and cash disbursement budgets (in millions):
Q1 Q2 Q3 Q4
Sales $ 324 $ 396 $ 477 $ 441
Total cash disbursement 245 338 549 369
Complete the following cash budget for the company. (A negative answer should be indicated by a minus sign. Enter your answers in millions of dollars, e.g., 32. Do not round intermediate calculations and round your answers to the nearest whole million dollar amount, e.g., 32.)
PIANO MAN, INC Cash Budget (in millions)
Q1 Q2 Q3 Q4
Beginning receivables $ $ $ $
Sales 324 396 477 441
Cash collections
Ending receivables $ $ $ $
Total cash collections $ $ $ $
Total cash disbursements 245 338 549 369
Net cash inflow $ $ $ $
Beginning cash balance $ $ $ $
Net cash inflow
Ending cash balance $ $ $ $
Minimum cash balance $ $ $ $
Cumulative surplus (deficit) $ $ $ $
