as soon as possible

BUS 217 Master Budget Pr. 9-24 Final Exam Part 1 Problem 9-24 Completing a Master [L021 The tollowirg data relMe t the o;eraticns ot Shitw Company, a anoles* distrtutor ot consrr;er goods Current assets as of 31: Bui&vgs and guipmert, ret Accourts pa,'at/e Comron shares Retahed * The gross margin is ot sales ActJal and budgeted sales tata are as foibas 3S,COO 21,750 12250 REQUIRED: using the preceding data complete the following: I). Sales Budget and Schedule of Expected Cash Collection. 2). Inventory Purchases Budget. 3). Schedule of Expected Cash disbursements Inventory Purchases. 4). Cash Budget. 5). Absorption Costing Income Statement for the Quarter Ending June 30. 6). Balance Sheet as at June 30. March (actual) JLI' scuo sc.oco c Sales are for cash and on credt Credit sae are colectedin the month fobxng sale The accords receivable atltarci 31 are the result ot Ilarchcredit sales Eacn nonth's ending inentorv stout equal c,' the tllouirg tudgetet cct ot goads sot e One-nar ot a runs mentor; purcns pat for n tne renn c' purcnase: cne-nalf pad in the nnm The acconts payee at Marcn31 are result c' Marcn pucrases invertor/ Montn expenses areas commissions, 01 sales. rent, s2,500 other exrnses (excluding Cepreciatffl of sales Assure that t,ese egerses are paid ronthty. Ceprecia%n s "00 nonth and ncJuees depreciatjtn cn g. Equipment will be acquired tr Casm Sl.iOin h. Management lge to maintain a mir,irum cash Oance of S4000 at end ot each rant. The company has an agreenent wit a 01 bank fiat at'*s the company tc borrr,v as needed at the tegirning of emh month, up to a total ban 'alance c: The iriterest rate he-se tans s per month and tor kill assure that nterest no: ccmpwndC company woun as far as s ate, repay tan plus mmuldlnterest at end ot the