1. all information are provided in the two images. it is about the budgets questions.
   

Gas costs are about $350 per show The firm has a policy of maintaining a cash balance of no less than $10 090 intain i Razia tries to maintain inventory equal to 20 % of the following month's sales All purchases are on account . 75 in the following next month are paid in the month of the purchase and the rest loans as Razia intends to repay any loans as quickly as possible . All payments are made at the end of the month . Any borrowings are made at the beginning of the month . When cash is available , interest on the full amount is paid first and then the principal is reduced . On July , I no interest payable ex le exists . The interest rate is 10 Razia's tax rate is about 35% . Taxes are paid in April Required Prepare a sales budge 2 . Prepare a cash collections budge 3 . Prepare a purchases budget compare a cash disbursements budge 5 . Prepare a cash budgeACTGIPOZ In- class Exercise 13 November 14 . 201 Razia buys beaded necklaces from aboriginal women in Thunder Bay . She then sells them at craft fairs throughout Canada . Her balance sheet as of the end of June is as craft fi follows : Cash $ 2. 400 4.895 Inventory 7.500 Equipment ( net ) 124 .600 2.750 Loan Payable 4.000 Common Shares 1000 Retained Earning 72,645 Razja wants to prepare a budget for the upcoming quarter ( July , August and September She has gathered the following information The cost of each necklace is $5 40, 00 0 X One third of all sales are on account . On average , 20% of the credit sal redit sales are 20 % allected in the month of the sale , 60 % the following month and 15 % the month 60 % cted in t after . As indicated by the collection history , the firm experiences an average 5% uncollectible accounts 14 ) In August , Razja has scheduled to have a completely new engine installed in the mobile home that she uses to travel between fairs . She has this done every three years . It will cost $20, 000 Sales for May were $20 , 900 . Sales for June were $15 400 In May , 2 200 units were purchased The selling price of the necklaces is $1 1 each ) SB Repairs and maintenance on the mobile home average $6 000 per month Amortization on the mobile home is $60,000 per year On average , fees at the craft shows amount to 15 % of sale On average , Razja sells 600 necklaces at each show . She plans to attend shows in July , 8 in August , 4 in September , and 2 in October