3 Garden Sales, Inc. se garden supplies Management is planning is cash needs for the second quarter. The company usually has to borrow money during the quarter to support peak sales of lawn care equipment, which occur during May. The following information nas been assembled to set in preparing a cash budget for the quarter . Budgeted monthly absorption costing income statements for Apni uyar A ay 1.1., 14. 20 26. 110 234.000 Sales cast of Grosse Selling Strative San Mense Total tratie tertini 7, . . . . 117.20 1. 1.1.4. 'scludes $21000 of depreciation each month Sales are 20 for cash and 80% on account Soles on account we collected over three month end with 10% cobected in the moon of 70% colected in the test mom following the month of sale, and the remaining 20% corrected in the second mom following the month of sale February's les Totaled 5195 000, and Mach's tales cotid 5240.000 detty purchases are paid for windothecer 50s or monts very purchases are nord for in the month of purchase. The common sold in the following an Accounts payable of March for inventory purchases during Man TO 5907800 each months nog vry must cool 20% e cost of choose to be on the following month. The merchandise vyt March 200 Dinds of $28.000 we bedecidondood in Apr Londong 536.000 welbe Durchased for con May n. The cash biance Marc 550.000 the common mustanno cosence of $40.000 Meerd och The company has agreement when the corte borrowincrements of $100 to go och moet up to total loon balance of $200.000 The rest on these for one ord formy store that not compounded the couroy the outcomes the 11 assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at th end of the quarter 3 8 otos Required: 1. Prepare a schedule of expected cash collections for April May, and June, and for the quarter in total, 2. Prepare the following for merchandise inventory a A merchandise purchases budget for April May, and June b Aschedule of expected cash disbursements for merchandise purchases for April, May, and June, and for the quarter in total 3. Prepare a cash budget for April May and June as well as in total for the quarter Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 20 Required) Prepare a schedule of expected cash collections for April May, and June, and for the quarter in total Schedule of Expected Cash Collections April May June Quarter Casais Sales on account February March May June Totalcance 0 03 os Required 2A > Required 1 Required 2A Required 2B Required 3 Prepare the following for merchandise inventory, a merchandise purchases budget for April, May, and June. Merchandise Purchases Budget April May June Total needs 0 0 0 Required inventory purchases $ 0 S 0 $ 0 Required 1 Required 2A Required 2B Required 3 Prepare the following for merchandise inventory, a schedule of expected cash disbursements for me April, May, and June, and for the quarter in total. Schedule of Expected Cash Disbursements for Merchandise Purchases April May June Quarter 69 0 April purchases 0 May purchases 0 June purchases 0 Total cash disbursements s 0 $ 0 s 0 S (Required 2A Required 3 >