Chapter - 20 Homework Saved Help 1 Walker Company prepares monthly budgets. The current budget plans for a September ending merchandise inventory of 31,500 units. Company policy is to end each month with merchandise inventory equal to 15% of budgeted sales for the following month. Budgeted sales and merchandise purchases for the next three months follow. The company budgets sales of 210,000 units in October. 2.57 points July August September Sales (Units) 190,000 310,000 280,000 Purchases (Units) 208,000 305,500 269,500 eBook Prepare the merchandise purchases budgets for the months of July, August, and September Hint WALKER COMPANY Merchandise Purchases Budget For July, August, and September July Print August September Budgeted ending inventory units 31,500 References Required units of available inventory Units to be purchased 208,000 305,500 269,500 Seved Chapter - 20 Homework Help Save & E Che 2 Karim Corp. requires a minimum $9,300 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,700 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. 2.57 points Cash receipts Cash payments July $25,300 29,950 August $33,300 31,300 September $41,300 33,300 eBook Prepare a cash budget for July, August, and September (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) Hint Print KARIM CORP Cash Budget For July, August, and September July August $ 9,700 September References Beginning cash balance Total cash available Preliminary cash balance Ending cash balance Loan balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month