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Deacon Company is a merchandising company that is preparing a budget for the three - month period ended June 3 0 th . The following
Deacon Company is a merchandising company that is preparing a budget for the threemonth period ended June th The following information is available
Budgeting Assumptions:
b Budgeted sales for July are $
The accounts payable at March will be paid in April.
d Each month's ending merchandise inventory should equal $ plus of the next month's cost of goods sold.
e Depreciation expense is $ per month. All other selling and administrative expenses are paid in full in the month the expense is incurred.
Required:
Calculate the expected cash collections for April, May, and June,
Calculate the budgeted merchandise purchases for April, May, and June.
Calculate the expected cash disbursements for merchandise purchases for April, May, and June. sheet.
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