Complete this question by entering your answers in the tabs below. Using the president's new assumptions in (b) above, prepare the following for merchandise inventory, a merchandise purchases budget for Aprit, May, and June. Complete this question by entering your answers in the tabs below. Using the president's new assumptions in (a) above, prepare a schedule of expected cash collections for April, May, and June and for the quarter in total. Complete this question by entering your answers in the tabs below. Using the president's new assumptions in (b) above, prepare the following for merchandise inventory, a schedule of expected cash disbursements for merchandise purchases for April, May, and June and for the quarter in total. Garden Sales, incorporated, sells garden supplies. Management is planning its cash needs for the second quartec. The compary usuaby has to borrow rooney during this quarter to support peek sales of lawn care equipment, which occur during Moy. The following information has been assembied to assist in preparing a cash budget for the quarter a. Budgeted monthly abtorption costing income statements for April-July are: b. Sales are 20x for cash and 80x on account. paid in the following month. Accounts paryable at March 34 tor imventory purcheses during March total 5137200. soseno I Diplends of $43000 will be dectared and paid in April. a Lind coming $51000 wil be purchesed for cash in May. 7. The cash balance at March at is $65.000, the company must maintsin a cash balance of at lesst $40.000 at the end of each month. 1. The compeny has an agreement wth a local bank that altows the company to borrow in incremenis of $1,000 at the beginning of each inonith, up to a total wolidt as far as if is able, ispay the loan plus accumblated interest at the end of the quarter The companys president is interested in kwawhg how reducing inventoy levels and colecting accounts recervable sooner wa impect the cash budget. He revises the casti collection and ending irventory assumption as folows *. Sales continue to be 20x for cash and sox an credit However, credit sales from Apris, Moy and June are coliected over a tivee-month penod with 25x are collected during the second auarter using the colection percentages soectied in the main section. Required: 1. Using the presidents new assumpogns in (a) above, prepare a schedule of expected cash coliections for Aprh, May, and June and for the quarter in total. a A reerchandise purchases budget for Apris, May, and June b. A schedule af expected cesh disbursements for menchandse purchases for April, May, and June and for the cuarter in total. for the auarter in total Complete this question by entering your answers in the tabs below. Using the president's new assumptions, prepare a cash budget for Apri, May, and June, and for the quarter in total, (Cash deficiency, ropayments and interest should be indicated by a minus sign.)