Garden Sales, Incorporated, sells garden supplies. Management is planning its cash needs for the second quarter. The co usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: b. Soles are 20% for cash and 80% on account. c. Sales on account are collected over a three month period with 10% collected in the month of sale; 70% collected in the first n following the month of sale; and the remaining 20% collected in the second honth following the month of sale. February's sal totaled $200,000, and March's sales totaled $300.000. d. Inventory purchases are paid for within 15 days. Therefore, 50% of a month's inventory purchases are paid for in the month of purchase. The remaining 50% is paid in the following month. Accounts payable at March 31 for inventory purchases during Mal total $126.000. e. Each month's ending inventory must equal 20% of the cost of the merchandise to be sold in the following month. The merchan inventory at March 31 is $84.000. f. Dividends of $49,000 wili be declated and paid in April. 9. Land costing $16.000 will be purchased for cash in May. Required: 1. Prepare a schedule of expected cash collections for April, May, and June, and for the quarter in total. 2. Prepare the following for merchandise inventory: a. A merchandise purchases budget for April, May, and June. b. A schedule of expected cash disbursements for merchandise purchases for April, May, and June, and for the 3. Prepare a cash budget for April, May, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. 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. Prepare the following for merchandise inventory, a merchandise purchases budget for April, May, Complete this question by entering your answers in the tabs below. Prepare the following for merchandise inventory, a schedule of expected cash disbursements for April, May, and June, and for the quarter in total. Prepare a cash budget for April, May, and June as well as in total for the quarter. (Cash deficiency, repayments and in be indicated by a minus sian.) Garden Sales, Incorporated, sells garden supplies. Management is planning its cash needs for the second quarter. The co usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: b. Soles are 20% for cash and 80% on account. c. Sales on account are collected over a three month period with 10% collected in the month of sale; 70% collected in the first n following the month of sale; and the remaining 20% collected in the second honth following the month of sale. February's sal totaled $200,000, and March's sales totaled $300.000. d. Inventory purchases are paid for within 15 days. Therefore, 50% of a month's inventory purchases are paid for in the month of purchase. The remaining 50% is paid in the following month. Accounts payable at March 31 for inventory purchases during Mal total $126.000. e. Each month's ending inventory must equal 20% of the cost of the merchandise to be sold in the following month. The merchan inventory at March 31 is $84.000. f. Dividends of $49,000 wili be declated and paid in April. 9. Land costing $16.000 will be purchased for cash in May. Required: 1. Prepare a schedule of expected cash collections for April, May, and June, and for the quarter in total. 2. Prepare the following for merchandise inventory: a. A merchandise purchases budget for April, May, and June. b. A schedule of expected cash disbursements for merchandise purchases for April, May, and June, and for the 3. Prepare a cash budget for April, May, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. 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. Prepare the following for merchandise inventory, a merchandise purchases budget for April, May, Complete this question by entering your answers in the tabs below. Prepare the following for merchandise inventory, a schedule of expected cash disbursements for April, May, and June, and for the quarter in total. Prepare a cash budget for April, May, and June as well as in total for the quarter. (Cash deficiency, repayments and in be indicated by a minus sian.)