Crystal Electronics is a reseller for an electronic gadget. They are working on the budgets for April, May, & June(Q2) and have asked for your help. The unit sales forecast for the next four months is:

April	May	June	July
8,000	8,200	7,800	7,100

The gadgets sell for $75 each. Traditionally, 10% of the sales are made in cash and the remaining 90% are made on store credit. The credit sales are collected 20% in the current month and 80% in the next month. March sales are budgeted at $622,500

Crystal Electronics likes to maintain an ending inventory of finished goods of 5% of next months projected sales forecast. Each gadget cost Crystal Electronics $53 to buy.

Complete the following budgets:

1.Sales budget (for April, May, & June)

2.Cash Receipts budget (June only)

3. Determine the following balances:

a.Sales revenue on the Q2 Pro-forma income statement

b. Accounts Receivable amount on the June 30 balance sheet

c. COGS on the Q2 Pro-forma income statement

d. Ending Inventory dollar amount on the June 30 balance sheet