Carmeniler of sarapbooking products. The sales fixed for the coming months Ap-LL HAY J July August $251,000 $274,000 $234.000 Cermen's sales are 80% cash and 40% store credit. The credit seles are collected 70% in the month of sele, the remainder the following month. Accounts receivable on April 1 are $36,000 Cermen's cost of sales averages 10% of revenues. The Inventory policy is to carry 10% of next month's sales needs. April 1 Inventory will be as expected under the policy. Carmen pays for purchases 20% in the month of purchase end 80% the following month Accounts payable on April 1 is $133,000. . uses budget for as meny months as is possible Calf Sabotag Coal of S Endiy Baging Purchases Mari b. Prepare a cash payments budget for April through July From This Month From Last Month Cam April May May % June July Jana July c. Prepare a cash receipts budget for April through July. [Do not round Intermediate calculations.) Cash Sal Collected in the Mart Collected thing North Cadd April May June July