b. (8 marks) (CLO3, PLO5, C3) Bright Corporation has submitted the following forecasts for the upcoming quarter. The company's inventories, production, and sales in units for the next three months have been forecasted as follows: July August September Beginning inventory 4,000 4,000 4,000 Merchandise purchase 54,000 64,000 29,000 Sales 54,000 64,000 34,000 Ending inventory 4,000 4,000 4,000 The company collected 65% of a month's sales and another 35% in the following month. Accounts receivable at June 30 amounting RM 250,000. Units are sold for RM 20 each product. 80% of a month's merchandise purchase are paid within the month and the remainder is paid for in the following month. Merchandise is purchased for RM 14 per unit. Selling and administrative expenses for the quarter are budgeted at RM 100,000 per month. The expenses will be paid in the month in which they are incurred. There is no depreciation. Accounts payable at June 30 amounting RM 150,000. The cash balance as at 30 June amounting RM 1,000,000. Purchase of equipment in September amounting RM 200,000 each. i. Prepare the cash collections for July, August and September. (5 marks) (CLO3, PLO5, C3)