2. Di & Co. makes all of its sales on credit. Budgeted sales (in units) are 10,000 in July, 11,000 in August, 12,000 in September, and 13,000 in October. Selling Price is $6 per unit. Purchases are equal to 70% of projected sales dollars for the following month. Purchases are paid in full in the month after purchase. Selling and distribution expenses are expected to be $14,000 per month and are paid fully each month. In addition, depreciation is $3,500 each month. All numbers are GST-inclusive, and tax is reported on a cash basis. Required: (a) Prepare a schedule of cash payments budget for the July-September quarter. (b) Cash payment of July. (c) Input-tax credit for July. (d) Cash payment of August. (e) Input-tax credit for August. (f) Cash payment of September. (g) Input-tax credit for September. (h) Accounts Payable balance at the end of September. 2. Di & Co. makes all of its sales on credit. Budgeted sales (in units) are 10,000 in July, 11,000 in August, 12,000 in September, and 13,000 in October. Selling Price is $6 per unit. Purchases are equal to 70% of projected sales dollars for the following month. Purchases are paid in full in the month after purchase. Selling and distribution expenses are expected to be $14,000 per month and are paid fully each month. In addition, depreciation is $3,500 each month. All numbers are GST-inclusive, and tax is reported on a cash basis. Required: (a) Prepare a schedule of cash payments budget for the July-September quarter. (b) Cash payment of July. (c) Input-tax credit for July. (d) Cash payment of August. (e) Input-tax credit for August. (f) Cash payment of September. (g) Input-tax credit for September. (h) Accounts Payable balance at the end of September