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II iclick the icon 10 vion tho locecast of bakes and servee ivvenia.) (1) \{Click the icon lo viow the coloction information.) Read the ceguitements Requitement 1. Calcilate the cash that Benath of Lite expects to collect in May and in June 2001. Show calculabors for each month. Cross Expected Revenue Collection \% Apail Mry June Sales revenue: Apri sale t revonive colkctod in Apr May sates tevence bollecied in May Jure sakes rovehue cotectad in dune Check answer Help me solve this Calculator Ask my instructor Data table ash collections for z column.) More info Almost all of the sales revenues of the oxygen equipment are credit card sales; cash sales are negligible. The credit card company deposits 97% of the revenues recorded each day into Breath of Life's account overnight. For the servicing of home oxygen equipment, 60% of oxygen services billed each month is collected in the month of the service, and 40% is collected in the month following the service. and service revenue. Show calculations for each month. 2. Breath of Life has budgeted expenditures for May of $12,000 and requires a minimum cash balance of $280 at the end of each month. It has a cash balance on May 1 of $300. a. Given your answer to requirement 1, will Breath of Life need to borrow cash to cover its payments for May and maintain a minimum cash balance of $280 at the end of May? b. Assume (independently for each situation) that (1) May total revenues might be 10% lower or that (2) total costs might be 5% higher. Under each of those two scenarios, show the total net cash for May and the amount Breath of Life would have to borrow to cover its cash payments for May and maintain a minimum cash balance of $280 at the end of May. (Again, assume a balance of $300 on May 1.) 3. Why do Breath of Life's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Has preparing the cash budget been helpful? Explain briefly. II iclick the icon 10 vion tho locecast of bakes and servee ivvenia.) (1) \{Click the icon lo viow the coloction information.) Read the ceguitements Requitement 1. Calcilate the cash that Benath of Lite expects to collect in May and in June 2001. Show calculabors for each month. Cross Expected Revenue Collection \% Apail Mry June Sales revenue: Apri sale t revonive colkctod in Apr May sates tevence bollecied in May Jure sakes rovehue cotectad in dune Check answer Help me solve this Calculator Ask my instructor Data table ash collections for z column.) More info Almost all of the sales revenues of the oxygen equipment are credit card sales; cash sales are negligible. The credit card company deposits 97% of the revenues recorded each day into Breath of Life's account overnight. For the servicing of home oxygen equipment, 60% of oxygen services billed each month is collected in the month of the service, and 40% is collected in the month following the service. and service revenue. Show calculations for each month. 2. Breath of Life has budgeted expenditures for May of $12,000 and requires a minimum cash balance of $280 at the end of each month. It has a cash balance on May 1 of $300. a. Given your answer to requirement 1, will Breath of Life need to borrow cash to cover its payments for May and maintain a minimum cash balance of $280 at the end of May? b. Assume (independently for each situation) that (1) May total revenues might be 10% lower or that (2) total costs might be 5% higher. Under each of those two scenarios, show the total net cash for May and the amount Breath of Life would have to borrow to cover its cash payments for May and maintain a minimum cash balance of $280 at the end of May. (Again, assume a balance of $300 on May 1.) 3. Why do Breath of Life's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Has preparing the cash budget been helpful? Explain briefly