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Hi - One problem has 5 questions with tables that I need help answered, please. Thank you Aztec Company sells its product for $150 per

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Hi - One problem has 5 questions with tables that I need help answered, please. Thank you

image text in transcribed Aztec Company sells its product for $150 per unit. Its actual and projected sales follow. Units Dollars April (actual) 4,500 $675,000 May (actual) 2,400 360,000 June (budgeted) 6,000 900,000 July (budgeted) 8,000 1,200,000 August (budgeted) 4,200 630,000 All sales are on credit. Recent experience shows that 22% of credit sales is collected in the month of the sale, 48% in the month after the sale, 25% in the second month after the sale, and 5% proves to be uncollectible. The product's purchase price is $110 per unit. All purchases are payable within 12 days. Thus, 60% of purchases made in a month is paid in that month and the other 40% is paid in the next month. The company has a policy to maintain an ending monthly inventory of 19% of the next month's unit sales plus a safety stock of 75 units. The April 30 and May 31 actual inventory levels are consistent with this policy. Selling and administrative expenses for the year are $1,848,000 and are paid evenly throughout the year in cash. The company's minimum cash balance at month-end is $120,000. This minimum is maintained, if necessary, by borrowing cash from the bank. If the balance exceeds $120,000, the company repays as much of the loan as it can without going below the minimum. This type of loan carries an annual 11% interest rate. On May 31, the loan balance is $36,000, and the company's cash balance is $120,000. (Round final answers to the nearest whole dollar.) 1 . Prepare a table that shows the computation of cash collections of its credit sales (accounts receivable) in each of the months of June and July. 2. Prepare a table that shows the computation of budgeted ending inventories (in units) for April, May, June, and July. 3 . Prepare the merchandise purchases budget for May, June, and July. Report calculations in units and then show the dollar amount of purchases for each month. 4. Prepare a table showing the computation of cash payments on product purchases for June and July. 5. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. (Do not round intermediate calculations.)

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