I recently posted this and the boxes that are blank were wrong. Can someone please complete the "incorrect" boxes? Thank you. I attached the previous answer of the question, but it has incorrect ones.

Purchases and Cash Budgets On July 1, MTC Wholesalers had a cash balance of $350,000 and accounts payable of $198,000. Actual sales for May and June, and budgeted sales for July, August, September, and October are:

Month	Actual Sales	Month	Budgeted Sales
May	$300,000	July	$ 180,000
June	320,000	August	160,000
		September	200,000
		October	240,000

All sales are on credit with 75 percent collected during the month of sale, 20 percent collected during the next month, and 5 percent collected during the second month following the month of sale. Cost of goods sold averages 70 percent of sales revenue. Ending inventory is one-half of the next month's predicted cost of sales. The other half of the merchandise is acquired during the month of sale. All purchases are paid for in the month after purchase. Operating costs are estimated at $56,000 each month and are paid during the month incurred.

Required Prepare purchases and cash budgets for July, August, and September.

Do not use a negative sign with your answers.

MTC Wholesalers
Purchases Budget
For the Months of July, August, and September
		July	August	September
Inventory required, current sales		$Answer Correct 1.00 points out of 1.00	$Answer Correct 1.00 points out of 1.00	$Answer Correct 1.00 points out of 1.00
Desired ending inventory		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Total inventory needs		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Less beginning inventory		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Purchases		$Answer Correct 1.00 points out of 1.00	$Answer Correct 1.00 points out of 1.00	$Answer Correct 1.00 points out of 1.00

Do not use a negative sign with your answers.

MTC Wholesalers
Cash Budget
For the Months of July, August, and September
		July	August	September
Cash balance, beginning		$Answer Correct 1.00 points out of 1.00	$Answer Incorrect 0.00 points out of 1.00	$Answer Incorrect 0.00 points out of 1.00
Cash receipts
Current month's sales		Answer Incorrect 0.00 points out of 1.00	Answer Incorrect 0.00 points out of 1.00	Answer Incorrect 0.00 points out of 1.00
Previous month's sales		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Sales two months prior		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Total receipts		Answer Incorrect 0.00 points out of 1.00	Answer Incorrect 0.00 points out of 1.00	Answer Incorrect 0.00 points out of 1.00
Cash available		Answer Incorrect 0.00 points out of 1.00	Answer Incorrect 0.00 points out of 1.00	Answer Incorrect 0.00 points out of 1.00
Cash disbursements:
Purchases		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Operating costs		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Total disbursements		Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00	Answer Correct 1.00 points out of 1.00
Cash balance, ending		$Answer Incorrect 0.00 points out of 1.00	$Answer Incorrect 0.00 points out of 1.00	$Answer Incorrect 0.00 points out of 1.00

Cash Budget For the Months of July, August, and September Particulars August Septembe October $350,000 $578,000731,000 $1,659,000 Beginning cash balance Cash recepts: Current month's sales( 70% of current month's sales previous month's sales ( 20% of previous month's sales) sales two month's prior ( 5% of two month's pror sales) Total reciepts Total cash available Less cash disbursements: $126,000 $112,000 140,000 168,000 64,000 36,000 32,000 40,000 15,000 16,000 9,000 8,000 $ 205,000 164,000 181,000 $ 216,000 $760,000 906,000 $ 1,093,000 $2,091,000 Purchase of invento $198,000 $119,000126,000 56,000 56,000 56,000 $254,000 175,000 $182,000 $506,000 731,000 $911,000 Operating costs Total cash disbursements Cash balance, en din Purchase budget August Septembe October Sales Inventory required, current sales ( 70% of sales revenue Desired Ending inventory one-half of next month's predicted cost of sales Total inventory needs Less: Beginning invento 180,000 160,000 200,000 240,000 126,000 112,000 140,000 168,000 56,00070,000 182,000 182,000 56,000 119,000| 126,000 84,000 224,000 70,000 154,000 63,000 Purchases Cash disbursements for inventory purchase Paid in the month after purchase $198,000 $119,000 126,000 154,000 $198,000 119,000 $126,000 Cash disbursements for inventory purchase