Grove, Inc. is a wholesaler for its only product, deluxe wireless electric drills, which sell for $90 each and cost Grove $54 each. On December 1, 2019, Grove's management requested a cash budget for December. The following selected account balances at November 30, 2019, were gathered by the accounting department:

Monthly Cash Budget Grove, Inc. is a wholesaler for its only product, deluxe wireless electric drils, which sell for $90 each and cost Grove $54 each On December 1, 2019. Grove's management requested a cash budget for December. The following selected account balances at November 30, 2019, were gathered by the accounting department $135.000 Marte securities at cost) 210.000 Accounts receivable (trade) 1,710.000 Inventaries (15,000 units) B101000 Operating expenses payable Accounts payable call merchandise) 583.200 Note payable due 1211/2019) 393000 Actual sales for the months of October and November were 20.000 and 30.000 units, respectivelyProiected unit Sales for December and unuary are 50.000 and 60.000, respectively Experience indicates that 50% of sales should be collected in the month of sale, 30 in the month following sale, and the balance in the second month following sale Uncollectible accounts, returns, and allowances are negligible Planned purchases should provide ending inventories equal to 30 of next month's unit sales volume. Approximately 70% of the purchases are paid for in the month of purchase and the balance in the following month Monthly operating expenses are budgeted at 58.10 per unit sold plus a foed amount of $189.000 including depreciation of 581,000. Except for depreciation o f operating expenses are paid in the month incurred and the balance in the following month interest expense is included in operating expenses Special anticipated year-end transactions include the following: 1. Declaration of a $22.500 cash dividend to be paid 2 weeks after the December 20 date of record 2. Sale of one half of the marketable securities held on November 30, again of $21,000 is anticipated 3. Pay off the note payable due December 31, 2019 4 Trade in of an old computer originally costing $675.000 and now having accumulated depreciation of $540,000 ata gan of 5157.500 on a new computer costing 150.000 Sufficient cash will be pard at the time of trade in so that only 50% of the total price will have to be financed 5. Grove's treasurer has a policy of maintaining a minimum month end cash balance of $135.000 but wants to raise this to $225.000 at December She has a standing aangement with the bank to borrow any amount up to a limit of $450,000 Prepare a cash budget for Grove, Inc., for December 2019, Collections in December from customers From Obras From November sales from December sales Total collections 5 Collections in December from customers: From October sales S From November sales From December sales Total collections $ Payments on account for merchandise purchases: November December Unit Sales Ending inventories Total units to be available Beginning inventories Units to be purchased Total dollar purchases Portion pard in December $ Payment of operating expense: November December Total variable operating expenses Fixed operating expenses Total operating expenses Monthly depreciation Operating expenses requiring payments Amounts to be paid in December Cash required at time of computer purchase: Cost of new computer Book value of old computer $ Gain on trade in Total trade in allowance Balance owing at trade-in Portion to be financed Cash payment required Cash payment required Grove, Inc. Cash Budget For the Month Ended December 31, 2019 Beginning cash balance Cash receipts: Collections from customers (calculated above) Sale on securities Short-term borrowing Cash available Cash disbursements: Payments on accounts payable (calculated above) Payments of operating expenses payable (calculated above) Down payment on computer (calculated above) Payoff of note payable Total cash disbursements Ending cash balance Please answer all parts of the question. Monthly Cash Budget Grove, Inc. is a wholesaler for its only product, deluxe wireless electric drils, which sell for $90 each and cost Grove $54 each On December 1, 2019. Grove's management requested a cash budget for December. The following selected account balances at November 30, 2019, were gathered by the accounting department $135.000 Marte securities at cost) 210.000 Accounts receivable (trade) 1,710.000 Inventaries (15,000 units) B101000 Operating expenses payable Accounts payable call merchandise) 583.200 Note payable due 1211/2019) 393000 Actual sales for the months of October and November were 20.000 and 30.000 units, respectivelyProiected unit Sales for December and unuary are 50.000 and 60.000, respectively Experience indicates that 50% of sales should be collected in the month of sale, 30 in the month following sale, and the balance in the second month following sale Uncollectible accounts, returns, and allowances are negligible Planned purchases should provide ending inventories equal to 30 of next month's unit sales volume. Approximately 70% of the purchases are paid for in the month of purchase and the balance in the following month Monthly operating expenses are budgeted at 58.10 per unit sold plus a foed amount of $189.000 including depreciation of 581,000. Except for depreciation o f operating expenses are paid in the month incurred and the balance in the following month interest expense is included in operating expenses Special anticipated year-end transactions include the following: 1. Declaration of a $22.500 cash dividend to be paid 2 weeks after the December 20 date of record 2. Sale of one half of the marketable securities held on November 30, again of $21,000 is anticipated 3. Pay off the note payable due December 31, 2019 4 Trade in of an old computer originally costing $675.000 and now having accumulated depreciation of $540,000 ata gan of 5157.500 on a new computer costing 150.000 Sufficient cash will be pard at the time of trade in so that only 50% of the total price will have to be financed 5. Grove's treasurer has a policy of maintaining a minimum month end cash balance of $135.000 but wants to raise this to $225.000 at December She has a standing aangement with the bank to borrow any amount up to a limit of $450,000 Prepare a cash budget for Grove, Inc., for December 2019, Collections in December from customers From Obras From November sales from December sales Total collections 5 Collections in December from customers: From October sales S From November sales From December sales Total collections $ Payments on account for merchandise purchases: November December Unit Sales Ending inventories Total units to be available Beginning inventories Units to be purchased Total dollar purchases Portion pard in December $ Payment of operating expense: November December Total variable operating expenses Fixed operating expenses Total operating expenses Monthly depreciation Operating expenses requiring payments Amounts to be paid in December Cash required at time of computer purchase: Cost of new computer Book value of old computer $ Gain on trade in Total trade in allowance Balance owing at trade-in Portion to be financed Cash payment required Cash payment required Grove, Inc. Cash Budget For the Month Ended December 31, 2019 Beginning cash balance Cash receipts: Collections from customers (calculated above) Sale on securities Short-term borrowing Cash available Cash disbursements: Payments on accounts payable (calculated above) Payments of operating expenses payable (calculated above) Down payment on computer (calculated above) Payoff of note payable Total cash disbursements Ending cash balance Please answer all parts of the