Commen is a retailer of scrapbooking products. The soles forecast for the coming months is: April May June July August Revenues $ 252.080 $ 271.ee $ 295.ee $ 342.ee $ 353,aga Carmen's sales are 80% cash and 20% store credit. The credit sales are collected 60% in the month of sale, the remainder the following month. Accounts receivable on April 1 sre $37.000. Carmen's cost of sales averages 60% of revenues. The inventory policy is to carry 40% of next month's soles needs. April 1 inventory will be as expected under the policy. Carmen pays for purchases 20% in the month of purchase and 80% the following month. Accounts payable on April 1 is $129,000 a. Prepare o purchases budget for os many months as is possible. April May June July August % Sales Cast af Sales Percentage Cast of Sales Ending In Beginning in Purchases b. Prepare a cash payments budget for April through July. April May June July From This Month Fram Last Month Cash Payments c. Prepare a cash receipts budget for April through July. (Do not round intermediate calculations.) April May June July Cash Sales Collected in the Month of Sale Collected the Folowing Month Cash Collected