HW 8 Part 2

Please provide full details and exact calculation:

Blanchet, Incorporated needs to budget for cash in its upcoming quarter. Below is historical information about cash collections and pavments. Projected Sales and Purchases are below. \\begin{tabular}{|l|r|r|} \\hline Month & \\multicolumn{1}{|c|}{ Sales } & Purchases \\\\ \\hline January & 95,000 & 74,000 \\\\ February & 85,000 & 61,000 \\\\ March & 62,000 & 28,000 \\\\ April & 105,000 & 82,000 \\\\ May & 48,000 & 60,000 \\\\ June & 56,000 & 29,000 \\\\ July & 70,000 & 60,000 \\\\ \\hline \\end{tabular} Required: Prepare a schedule of cash collections. Prepare a schedule of cash payments. Accounts Receivable Balance June 30