Aztec Company sells its product for $160 per unit. Its actual and budoeted calpe fnilinw. Lut saves 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 24% of obtained at the end of any month when the preliminary company's minimum cash balance at month-end is $120,000. Loans are $120,000 is used to repay loans at month-end. This loan has balance is below $120,000. Any preliminary cash balance above 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 4. Prepares is $329,120. each month. Complete this question by entering your answers in the tabs below. Prepare a cash budget for June and July, inctuding 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 nearrst whole doliars.) 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.)