Complete this question by entering your answers in the tabs below.

Prepare a merchandise purchases budget for July, August, and September. Also, compute total merchandise purchases for the

quarter ended September $30.$ Complete this question by entering your answers in the tabs below.

Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also,

compute total cash disbursements for merchandise purchases for the quarter ended September $30.$ Complete this question by entering your answers in the tabs below.

Prepare an income statement for the quarter ended September $30.$Complete this question by entering your answers in the tabs below.

Required $2A$

Required $2B$

Required $4$

Prepare a balance sheet as of September $30.$

$\begin{array}{cc}\text{B}\text{e}\text{e}\text{c}\text{h}\text{C}\text{o}\text{r}\text{p}\text{o}\text{r}\text{a}\text{t}\text{i}\text{o}\text{n}& ?\\ \text{B}\text{a}\text{l}\text{a}\text{n}\text{c}\text{e}\text{S}\text{h}\text{e}\text{e}\text{t}& ?\\ \text{S}\text{s}\text{s}\text{e}\text{t}\text{s}& ?\\ ?& ?\\ ?& ?\\ ?& ?\\ ?& ?\\ ?& ?\\ \text{T}\text{o}\text{t}\text{a}\text{l}\text{a}\text{s}\text{s}\text{e}\text{t}\text{s}& ?\\ \text{L}\text{i}\text{a}\text{b}\text{i}\text{l}\text{i}\text{t}\text{i}\text{e}\text{s}\text{a}\text{n}\text{d}\text{S}\text{t}\text{o}\text{c}\text{k}\text{h}\text{o}\text{l}\text{d}\text{e}\text{r}\text{s}\text{'}\text{E}\text{q}\text{u}\text{i}\text{t}\text{y}& ?\\ ?& ?\\ ?& ?\\ ?& ?\\ \text{T}\text{o}\text{t}\text{a}\text{l}\text{l}\text{i}\text{a}\text{b}\text{i}\text{l}\text{i}\text{t}\text{i}\text{e}\text{s}\text{a}\text{n}\text{d}\text{s}\text{t}\text{o}\text{c}\text{k}\text{h}\text{o}\text{l}\text{d}\text{e}\text{r}\text{s}\text{'}\text{e}\text{q}\text{u}\text{i}\text{t}\text{y}& ?\end{array}$Required Information

$[$The following informotion opplies to the questions disployed below.$]$

Beech Corporation is a merchandising company that is preparing a master budget for the third quarter. The company's

bolance sheet as of June $30$ th is shown below:

Beech's managers made the following additional assumptions and estimates:

Estimated sales for July, August, September, and October will be $$370,000,$$$390,000,$$$380,000,$ and $$400,000,$ respectively.

$2$ All sales are on credit and all credit sales are collected. Each month's credit soles are collected $35\%$ in the month of sole and $65\%$ in

the month following the sale. All of the accounts receivable at June $30$ will be collected in July.

Each month's ending inventory must equal $30\%$ of the cost of next month's soles. The cost of goods sold is $75\%$ of soles. The

company pays for $40\%$ of its merchandise purchases in the month of the purchase and the remaining $60\%$ in the month following

the purchsse. All of the accounts payoble ot June $30$ will be paid in July.

Monthly selling and administrative expenses are always $$50,000.$ Each month $$7,000$ of this total amount is depreciation expense

and the remaining $$43,000$ relates to expenses that are paid in the month they are incurred.

The company does not plan to borrow money or pay or declare dividends during the quarter ended September $30.$ The company

does not plan to issue any common stock or repurchose its own stock during the quarter ended September $30.$

Required:

Prepore a schedule of expected cosh collections for July. August, and September. Also, compute total cosh collections for the

quarter ended September $30.$

$2-0.$ Prepare a merchandise purchases budget for July, August, and September. Also, compute total merchandise purchases for the

quarter ended September $30.$

$2-$b$.$ Prepore a schedule of expected cosh disbursements for merchandise purchases for July, August, and September. Also, compute

total cash disbursements for merchandise purchases for the quorter ended September $30.$

Prepore an income statement for the quarter ended September $30.$

Prepore a balance sheet as of September $30.$

Complete this question by entering your answers in the tabs below.

Prepare a schedule of expected cash collections for July, August, and September. Also, compute total cash collections for the

quarter ended September $30.$