32 K ces Carmen is a retailer of scrapbooking products. The sales forecast for the coming months is: Revenues April $253,000 $272,000 May June $291,000 July $342,000 August $351,000 Carmen's sales are 70% cash and 30% store credit. The credit sales are collected 70% in the month of sale, the remainder the following month. Accounts receivable on April 1 are $40,000. Carmen's cost of sales averages 70% of revenues. The inventory policy is to carry 30% of next month's sales needs. April 1 inventory will be as expected under the policy. Carmen pays for purchases 40% in the month of purchase and 60% the following month. Accounts payable on April 1 is $128,000. a. Prepare a purchases budget for as many months as is possible. Sales Cost of Sales Percentage Cost of Sales Ending Inv Beginning Inv Purchases From This Month From Last Month Cash Payments April $ 253,000 $ April b. Prepare a cash payments budget for April through July. May Cash Sales Collected in the Month of Sale Collected the Following Month Cash Collected % May 272,000 April June June July $ 291,000 $ 342,000 May July c. Prepare a cash receipts budget for April through July. (Do not round intermediate calculations.) % June % July August $ 351,000 %

Carmen is a retaller of scropbooking products. The sales forecant for the coming norets is (2) Carmen's sales are 70% cash and 30% store credit. The credit sales are collected 70% in the month of sale, the remainder the following month. Accounts recelvable on April t are $40,000 Carmen's cost of saies averages 70% of revenues. The invertory policy is to carry 30% of next month's sales needs. April 1 inventory will be as expected under the policy. Carmen pays for purchases 40% in the month of purchase and 60% the following month. Accounts payable on April 1 is $128,000. a. Prepare a purchases budget for as many months as is possible. b. Prepare a cash payments budget for April through July. c. Prepare a cash receipts budget for April through July, (Do not round intermediate calculations.)