Chinn Company Has Gathered the Following Information

Chinn Company has gathered the following information:
March 31, cash balance, $64,000
Amortization expense for April, $13,400
Dividends paid in April, $23,000
Cash collections in April, $142,000
Equipment purchased for cash in April, $27,200
Cash paid for operating expenses in April, $59,600
Merchandise paid for in April, $84,600
Chinn requires a minimum cash balance of $10,000.
Required: Prepare a cash budget for April, and comment on whether or not minimum cash balance requirements are met.

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Cash Budget: Minimum cash bal...

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