Computer Service Inc. is a retail distributor for MZB-33 computer hardware and related software and support services. Computer Service prepares annual sales forecasts; the first six months for the year are presented here. Cash collections, cash receipts, and inventory info Cash sales account for 15% of Computer Service's total sales, 30% of the total sales are paid by bank credit card, and the remaining 55% are on open account (Computer Service's own charge accounts). The cash sales and cash from bank credit card sales are received in the month of the sale. Bank credit card sales are subject to a 4% discount deducted at the time of the daily deposit. The cash receipts for sales on open account are 72% in the month following the sale and 26% in the second month after the sale. The remaining accounts receivable are estimated to be uncollectible. Computer Service's month-end inventory requirements for computer hardware units are 30% of the next month's sales. A one-month lead time is required for delivery from the manufacturer. Thus, orders for computer hardware units are placed on the 25th of each month to ensure that they will be in the store by the first day of the month needed. The computer hardware units are purchased under terms of n/45 (payment in full within 45 days of invoice), measured from the time the units are delivered to Computer Service. Computer Service's purchase price for the computer units is 66% of the selling price. Sales forecast Requirement 1. Calculate the cash that Computer Service Inc. can expect to collect during April. Be sure to show all of your calculations. (Show all months in the cash collections. If the cash collected is zero, enter "0".) Computer Service Inc. is a retail distributor for MZB-33 computer hardware and related software and support services. Computer Service prepares annual sales forecasts; the first six months for the year are presented here. Cash collections, cash receipts, and inventory info Cash sales account for 15% of Computer Service's total sales, 30% of the total sales are paid by bank credit card, and the remaining 55% are on open account (Computer Service's own charge accounts). The cash sales and cash from bank credit card sales are received in the month of the sale. Bank credit card sales are subject to a 4% discount deducted at the time of the daily deposit. The cash receipts for sales on open account are 72% in the month following the sale and 26% in the second month after the sale. The remaining accounts receivable are estimated to be uncollectible. Computer Service's month-end inventory requirements for computer hardware units are 30% of the next month's sales. A one-month lead time is required for delivery from the manufacturer. Thus, orders for computer hardware units are placed on the 25th of each month to ensure that they will be in the store by the first day of the month needed. The computer hardware units are purchased under terms of n/45 (payment in full within 45 days of invoice), measured from the time the units are delivered to Computer Service. Computer Service's purchase price for the computer units is 66% of the selling price. Sales forecast Requirement 1. Calculate the cash that Computer Service Inc. can expect to collect during April. Be sure to show all of your calculations. (Show all months in the cash collections. If the cash collected is zero, enter "0".)