ASAP PLEASE

prepare the budget for: 1. Sales receipts for the quarter (10 points) 2. Purchases for the quarter (10 points) 3. Disbursements on purchases for the quarter (10 points)| 4. Disbursements of administrative and sales expenses for the quarter (10 points) A. Certain data from the Balance Sheet on March 31, 20 xx: Dr. Cr. Cash $20,000 Accounts Receivable $64,000 Inventory $15,400 Buildings and equipment (net of $225,000 depreciations) Debts to pay. $23.400 Long-term debt $90,000 Common shares - capital $150,000 Retained earning $61,000 Totals $324,400 $324,400 B. projected and actual sales for several months of 20 xx are: March (real $80,000 April $78,500 May $74,500 June $80,100 | July $53,300 C. Other important data: 1. Monthly sales are 20% in cash and 80% on credit. Credit sales from the previous month are charged in full in the following month (therefore, what is in accounts receivable at the end of March is 80% of March sales). 2. The gross profit margin generated by the corporation on its sales is 28%. 3. The ending inventory for each month is equal to 25% of the budgeted cost of sales for the next month. 4. 40% of monthly merchandise purchases are paid in the month of purchase and the remainder in the month following the purchase. 5. The expected monthly expenses are salaries, $ 9,100 ; advertising, $ 4,350 per month and remaining expenses (except depreciation) represent 9 % of sales. It assumes that these expenses are paid every month (nothing is owed at the end of the month). 6. The depreciation expense is $10,000 for the quarter and includes the portion that corresponds to the assets acquired during the period 7. Cash equipment was acquired: $ 2,100 in April and $ 12,700 in May 20 xx . 8. Management wishes to maintain a minimum cash balance at the end of each month of $ 8,000. 9. When the business is in need of money, it can borrow from a local bank in increments of $ 1,000 at the beginning of each month up to a loan ceiling of $ 20,000. The interest rate that the bank charges on these loans is 1% per month and the interest is paid next month (we assume that it is not compound interest and that each loan is made at the end of the month). The company paid dividends $ 2700 June