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Can you please help me solve 7-29 this page and the next page both are one question as soon as possible because I have to study them before test.

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billing date, and customers that do not pay within the 10-day discount period generaly wait the fitl 30 days before making payment. Based on past ex receivable is as follows: COUNTING FOR PLANNING AND CONTROL January perience, the collection experience of ac 7-33 F Green May, $2 70% 28% Within the 10-day discount period At 30 days after billing Uncollectible sold is 6 purchase next mo Sales for May 20X8 were $790,000. The forecast sales for the next 4 months are as follows: Pre $810,000 990,000 940,000 660,000 purchase July August September 7-34 P Leimersh tory. At ti sold durir are genera 80% duri TIU's average markup on its products is 40% of the sales price. U purchases merchandise for resale to meet the current month's sales demand and to maintait ry of 25% of the next month's cost of goods sold. All purchases are a desired rnonthly ending invento on credit. T TJU pays for one-half of a month's purchases in the month of purchase and the other Purch in the month following the purchase. at 230,00 June, 30 All sales and purchases occur uniformly throughout the month. 1. How much cash can TJU plan to collect from accounts receivable collections during July 20X 2. Compute the budgeted dollar value of TJU inventory on May 31, 20x8. 3. How much merchandise should TJU plan to purchase during June 20X8? 4. How much should TJU budget in August 20X8 for cash payments for m 2. Prepar purcha 7-35 Cas 7-30 Sales Budget Suppose a lumber yard has the following data: . Accounts receivable, May 31: (2 x May sales of $30000-1m The ca nough Tukding to cover all its cash needs until cash receipts rsements. How much venture capital funding should Blake and Anna seek? le key 7-28 Purchases and Cost of Goods Sold Popeil Products, holesaler of fishing equipment, budgeted the following sales for the indicated months: etween July 20X8 $1,920,000 156,000 $2,076,000 August 20x8 June 20X8 $1,850,000 130,000 $1,980,000 anag- agers " Do $1,910,000 Sales on account Cash sales Total sales 274,000 S2.184,000 All merchandise is marked up to sell at its invoice cost plus 20%. Target merchandise inventories at the beginning of each month are 25% of that month's projected cost of goods sold. ered ad- rt," 1. Compute the budgeted cost of goods sold for the month of June 20X8. 2. Compute the budgeted merchandise purchases for July 20X8. 7-29 Purchases and Sales Budgets All sales of Tracy's Jeans and Uniforms (TJU) are made on credit. Sales are billed twice monthly, on the fifth of the month for the last half of the prior month's sales and on the twentieth of the month for the first half of the current month's sales. For accounts paid within the first 10 days after the billing date, TJU gives customers a 2% discount; otherwise the full amount is due within 30 days of the