Garden Sales, Incorporated, sells garden supplies. Management is planning its cash needs for the secind quarter

Garden Saies, Incorporated, sells garden supplies. Management is planning its cash needs for the second quartec. The company usually has to borrow money during this quarter to support peak sales of lawet care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: b. Sales are 20% for cash and 80% on account. following the month of sale; and the remaining 20% collect total \$126.000. ifrventory at March 31 is $84.000. f. Dividends of $49.000 will be declared and paid in April. 9. Land costing $16.000 will be purchased for cash in May: h. The cash balance at March 31 is $52.000; the company must mointain a cash palance of at least $40,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1.000 at the beginning of at 5200.0002 the interest rate on these loans is 19 per month and for simplicity we will The compantwould. as far as it is able. repay the loan plus accumulated interest at the end of the quarter. Required: 1. Prepare a schedule of expected cash collections for Apri. May. and June. and for the quarter in total. 2. Prepare the following for merchandise inventory: a. A merchandise purchases budget for Aprili, May, and June b. A schedule of expected cash disbursements for meichandise purchases for Abril. May. and June. and for the quarter in total 3. Prepare a cosh budget for April, May, and June as well as in total for the quartef. 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 quarter in total 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. Required: 1. Prepare a schedule of expected cash collections for Aprii. 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 Apri. May. and June, and for the quarter in total. 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. namare the following for merchandise inventory, a merchandise purchases budget for Apri, May, and June. 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 irventory: 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 quarte 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. 2. Dividends of $49,000 will be declared and paid in April. g. Land costing 516,000 will be purchased for cashin in May. th. The cash balance at March 31 is $52000, the compary must maintain a cash balance of at least $40.000 at the end of each mont L. The company has an agreemerit with a local bank that allows the company to borrow in increments of $1.000 at the beginning of each month, up to a total loan balance of $700,000. The interest rate on these loans is to per morth and for simplicity we will assume that interest is not compounded. The comparty would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. Pequired: 1. Prepare a schedule of expected cash collections for Apri, May, and June, and for the quanter in total. 2. Prepare the following for merchandise irrventory: a. A merchandise purchases budget for April. May. and June. b. A schecdule of expected cash disbursements for merchandise purchases for Apri, May, and June, and for the quarter in total. 3. Prepare a cash budget for April, Moy, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. Ownare a cash budget for Aprit, May, and June as well as in total for the quartec. (Cash deficiency, repayments and interest should