3-19 Jaime's Hat Shop sells hats with college logos on them: the hats sell for $22 each. This year, Jaime's expects to sell 350 hats in May, 300 in June, 400 in July, 800 in August, l 040 in September, and 750 in October. On average, 25 percent of its customers pur- chase on credit. Jaime's allows those customers to pay for their purchases the month after they have made their purchases. Required: Prepare a sales budget for Jaime's Hat Shop for the third quarter of this year. 3-20 Refer to 3-19. Company policy is to plan to end each month with an ending inventory equal to 20 percent of the next month's projected sales. Jaime's pays $8 for each hat that it purchases. Jaime and his supplier have an arrangement that allows Jaime's Hat Shop to pay for each purchase 60 days after the purchase. Required Prepare a purchases budget for the third quarter of this year for Jaimes Hat Shop. 3-21 Refer to 3-19. Jaime's ended the second quarter of this year with 60 hats on hand