3) Motley Inc. offers a 3% discount to customers who pay cash at the time of sale and a 2% discount to customers who pay within the first 10 days of the month after sale. Past experience shows that cash collections from customers tend to occur in the following pattern: Cash collected at time of sale collected within cash discount period in first 10 days of month after sale Collected after cash discount period in first month after month of sale collected after cash discount period in second month after month of sale Never collected 55% 15% 10% 15% Compute the total cash budgeted to be collected in March if sales forecasts are $370,000 for January, $420,000 for February, and $460,000 for March. 4) Spetre Ltd. plans inventory levels (at cost) at the end of each month as follows: May $271,000, June: $226,000, July: $209,000, and August: $241,000. Sales are expected to be June: $449,000, July: S359,000, August: S306.000. Cost of goods sold is 65% of sales. Purchases in April were $258,000 and in May they were $188,000. Payments for each month's purchases are made as follows: 15% during that month,70% the next month, and the final 15% the next month. Prepare budget schedules for June, July, and August for purchases and for disbursements for purchases