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Elis Electronics Company's actual sales and purchases for April and May are shown here, along with forecasted sales and purchases for June through Septemibet. The

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Elis Electronics Company's actual sales and purchases for April and May are shown here, along with forecasted sales and purchases for June through Septemibet. The company makes 10 percent of its sales for cast and 90 percent on credit of the credit sales, 40 percent are collected in the month after the sale and 60 percent are collected two months after Elis pays for 50 percent of its purchases in the month affer purchase and 50 percent two months after. Labour experse equals 15 percent of the current month's sales Overheod expense equals $12,400 per month. Interest paymients of $32.000 are due in June and 5 eptember. A cash dividend of $52,000 is scheduled to be paid in June. Tax payments of $25,400 are due in June and September. There is a scheduled capital outlay or $340,000 in 5 eptember Elas Electronics' ending cash balance in May is $22,000. The minmum desured cash balance is $17,000 a. Prepare a schedule of monthly canh receipts for June through Septemtier. b. Prepare the monthly cash payments for June through September b. Prepare the monthly cash payments for June through Septembet c. Piepare a complete mionthly cash budget wath borrowng and repayments for June through September The makmum desired cash balance is $50,400 Excess cash fabove $50,400 i is used to boy marketable securties. Marketable securnies are sold before borrowng funds n case of a cash shorthall fless than $17,000 ) (Omit 3 sign in your response. Do not lesve ony empty spaces; input a o wherever is is required. Negetive answers and amounts to be deducted should be indicated by a minus sign)

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