All required parts (1,2,3,4

wo Artec Company sells its product for $160 per unit its actual and budgeted sales follow May (July Sales wat 2.000 5,500 4,500 4.400 Sales 1320,000 $80,000 104.000 All sales are on Credit Collections are as follows: 26 is collected in the month of the sale, and the remaining 74% is collected in the month foliowing the sale Merchandise purchases como per unit. For those purchases, 60 is paid in the month of purchase and the other is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of 20% of the next month's unt sales. The May 31 actual Inventory level of 1900 unts is consistent with this policy Selling and administrative expenses of 566.000 per month are paid in cash. The company's minimum cash balance at month-end is $120.000 Loans are obtained at the end of any month when the preliminary chance is below $120.000 Any preliminary cash balance above 5120.000 is used to repay loans at month end. This fonhos a 0.0 monthly interest rate On May 31 the lo balonce 8 $45.600 and the company's cash balance is $120.000 Required: 1. Prepare a schedule of cash receipts from sales for each of the months of June and July 2. Prepare the merchandise purchases budget for June and 3. Prepare a schedule of cash payments for merchandise purchases for June and Aly Assume May's budgeted merchandise Durchases is $297000 4. Prepare a cash budget for June and July including any loan activity and interest expense. Compute the con balance at the end of each month Complete this question by entering your answers in the tabe below. red 1 er Reits Recured are schedule of cash receipts from sales for each of the month of Nine and July AZTEC COMPANY Can Rute frumos 1 320.000 100.000 720.000 IGHTest Document Bende You Required) Check my work Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. May (Actual) June (Budget) July (Budget) August (Budget) Sales units 2,000 5,500 4.500 4,400 Sales dollars $ 320,000 $ 880,000 $. 720,000 $ 704,000 All sales are on credit. Collections are as follows: 26% is collected in the month of the sale, and the remaining 74% is collected in the month following the sale. Merchandise purchases cost $110 per unit. For those purchases, 60% is paid in the month of purchase and the other 40% is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of 20% of the next month's unit sales. The May 31 actual inventory level of 1,100 units is consistent with this policy. Selling and administrative expenses of $166,000 per month are paid in cash. The company's minimum cash balance at month-end is $120,000 Loans are obtained at the end of any month when the preliminary cash balance is below $120,000. Any preliminary cash balance above $120,000 is used to repay loans at month-end. This loan has a 0.0% monthly interest rate. On May 31, the loan balance is $45,500 and the company's cash balance is $120,000. Required: 1. Prepare a schedule of cash receipts from sales for each of the months of June and July 2. Prepare the merchandise purchases budget for June and July 3. Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May't budgeted merchandise purchases is $297,000. 4. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. Complete this question by entering your answers in the tabs below. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a schedule of cash receipts from sales for each of the months of June and July. AZTEC COMPANY Schedule of Cash Receipts from Sales May June July Sales $ 320,000 $ 880,000 $ 720,000 Cash receipts from: Collections of current period salos Collections of prior period sales Total cash receipts $ 0 $ 0 Required 1 Required 2 > this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the merchandise purchases budget for June and July + AZTEC COMPANY Merchandise Purchases Budgets June Budgeted sales units 5,500 July 4,500 Next period budgeted sales units Ratio of Inventory to future sale Desired ending inventory units 5.500 4.500 Units to archase Cost per unit Cost of merchandise purchase 5,500 4,500 $ 110$ 110 $ 605.000 $ 495,000 HUN Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise purchases is $297,000. AZTEC COMPANY Schedule of Cash Payments for Merchandise Purchases May June July Merchandise purchases Cash payments for Current period purchases Prior period purchases Total cash payments for merch purchases $ 0 $ O 100 points Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month (Negative balances and Loan repayment amounts if any) should be indicated with minus sign. Round your answers to the nearest whole dollars.) AZTEC COMPANY Cash Budget June and July June July Beginning cash balance + thoot Total cash available Leo Cash payments for Reference Total payment Primary cash balance Ending cash balance OS O $ Loan balance July Loonbolone Beginning of month Analon loan repayment LantEndoch