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Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as
Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June th is shown below:
tabletableBeech CorporationBalance SheetJune AssetsCash$Prepare a schedule of expected cash collections for July, August, and September.
a Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the
quarter ended September
b Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September.
Prepare an income statement that computes net operating income for the quarter ended September
Prepare a balance sheet as of September
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Prepare a schedule of expected cash collections for July, August, and September.
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