Complete the Budget in a Service Company (Cash Budget) assignment. Please use the template provided below.The document must have the complete budget and show the entire process along with an explanation.Add a brief explanation of the budget just like what you should do if you were in a meeting with senior management and you were the accountant who was tasked with presenting the budget. Put that explanation on the page below the budget that you have prepared.Hint: The budget should start with the January beginning balance and the February ending balance should also be the ending balance for the two months combined column.
Formulas included. Enter amounts in highlighted areas to complete the budget
Edge Soccer Programs
Cash Budget
For the Two Months Ended February 28
January
Beginning cash balance
Cash receipts from customers
Collection of note receivable
Cash available
Cash payments:
Equipment purchases
Selling and administrative expenses
Total cash payments
Ending cash balance before financing
Minimum cash balance desired
Projected cash excess (deficiency)
Financing:
Borrowing
Total effects of financing
Ending cash balance
$
–
$
$
–
$
–
$
$
–
o complete the budget
grams
et
ed February 28
$
$
February
–
$
$
$
$
$
$
$
–
$
$
$
$
Total
–
–
$
$
$
$
$
$
–
$
–
$
$
–
–
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