2. All sales of Tonya's Jeans and Uniforms (TJU) are made on credit. Sales are billed twice monthly, on the fifth of the month for the last half of the prior month's sales and on the twentieth of the month for the first half of the current month's sales. For accounts paid within the first 10 days after the otherwise the full amount is due within 30 days of the billing date, and customers that do not pay within the 10-day discount period generally waik the full 30 days before making payment. Based on past experience, the collection experience of accounts receivable is: " (Click the icon to view the collection experience.) (Click the icon to view the sales budget.) TJU's average mark on its products is 45% of the sales pnce. TJU purchases merhandise for resale to meet the current month's sales demand and to maintain a desired monthly ending inventory of 25% o the next months cost of goods sold. All purchases are on credit TJu pays or one-half of a month's purchases in the monn and the other half in the month following the purchase. All sales and purchases ooour uniformly throughout the month Read the requirements Requirement 1. How much cash can TJU plan to collect from accounts receivable olections during July 20x8 July collections Total July collections Requirement 2. Compute the budgeted dollar value of TJU inventory on May 31, 20x8. Required inventory Requirement 3. How much merchandise should TJU plan to purchase during June 20x87 June Merchandise Purchases Total merchandise needed Less: (10) Required purchases Requirement 4. How much should TJU budget in August 20X8 for cash payments for merchandise purchased? August payments 12) 13 Total : Data Table Within the 10 day discount period At 30 days after billing Uncollectible 80% 17% 3%