11 Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 80 percent of their fees in the month the service is provided. In the month following service, Paul collects 15 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 75 percent is used in the month of purchase, and the remainder is used in the month following purchase. 1 points The following information is available for the months of June, July, and August, which are Paul's busiest months: eBook References June 1 cash balance $15,400. June 1 supplies on hand $4,200. June 1 accounts receivable $8,700. June 1 accounts payable $4,100. Estimated sales for June, July, and August are $26,100, $39,200, and $41,900, respectively. Sales during May were $24,500, and sales during April were $17,500. Estimated purchases for June, July, and August are $9,600, $18,400, and $13,200, respectively. Purchases in May were $5,300. Required: 1. Compute budgeted cash receipts and budgeted cash payments for each month. 2. Compute the balances necessary to prepare a budgeted balance sheet for August 31 for each of the following accounts: 11 ESLIIeu Sales lui JUNIE, July, anu suyusi ale P20,IVU, PJJ,, anu P1,00, espectively. Sales during May were $24,500, and sales during April were $17,500. Estimated purchases for June, July, and August are $9,600, $18,400, and $13,200, respectively. Purchases in May were $5,300. 1 points Required: 1. Compute budgeted cash receipts and budgeted cash payments for each month. 2. Compute the balances necessary to prepare a budgeted balance sheet for August 31 for each of the following accounts: eBook References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute budgeted cash receipts and budgeted cash payments for each month. June $ Budgeted Cash Receipts Budgeted Cash Payments 25,430 $ 7,450 $ July August 36,500 $ 40,705 15,225 $ 15,800 $ 11 Required 1 Required 2 1 points Compute the balances necessary to prepare a budgeted balance s eBook References Balances for August 31 Budgeted Balance Sheet Cash June 1 Balance Add: Total Cash Receipts 15,400 Less: Total Cash Payments 10,235 August 31 Balance 79,560 Supplies Inventory 25% of August Purchases $ 41,200 Accounts Receivable 20% of August Sales 68,250 5% of July Sales Balance at August 31 68,250 Accounts Payable 50% of August Purchases 13,265