I tried my best on this. I need help with all the ones that are marked red/incorrect. This is all im given. The images are in order from A - J

a. October sales are estimated to be $280,000, of which 45 percent will be cash and 55 percent will be credit. The company expects sales to increase at the rate of 25 percent per month. Prepare a sales budget. b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. c. The cost of goods sold is 60 percent of sales. The company desires to maintain a minimum ending inventory equal to 10 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $13,600. Assume that all purchases are made on account. Prepare an inventory purchases budget. d. The company pays 80 percent of accounts payable in the month of purchase and the remaining 20 percent in the following month. Prepare a cash payments budget for inventory purchases. e. Budgeted selling and administrative expenses per month follow. Salary expense (fixed) Sales commissions Supplies expense Utilities (fixed) Depreciation on store fixtures (fixed)* Rent (fixed) Miscellaneous (fixed) $19,600 5% of Sales 2% of Sales $ 3,000 $ 5,600 $ 6,400 $ 2,800 *The capital expenditures budget indicates that Vernon will spend $237,600 on October 1 for store fixtures, which are expected to have a $36,000 salvage value and a three-year (36-month) useful life. Use this information to prepare a selling and administrative expenses budget. f. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. g. Vernon borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $28,000 cash cushion. Prepare a cash budget. h. Prepare a pro forma income statement for the quarter. i. Prepare a pro forma balance sheet at the end of the quarter. j. Prepare a pro forma statement of cash flows for the quarter. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Required H Required I Required) October sales are estimated to be $280,000, of which 45 percent will be cash and 55 percent will be credit. The company expects sales to increase at the rate of 25 percent per month. Prepare a sales budget. October November December Sales Budget Cash sales Sales on account Total budgeted sales $ 126,000 $ 157,500 $ 154,000 192,500 $ 280,000 $ 350,000 $ 196,875 240,625 437,500 Required A Required B Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F. Required G Required H Required I Required J The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. October November December Schedule of Cash Receipts Current cash sales Plus collections from A/R Total collections $ 126,000 $ 157,500 0 154,000 $ 126,000 $ 311,500 $ 196,875 192,500 $ 389,375 Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F. Required G Required H Required I Required ] The cost of goods sold is 60 percent of sales. The company desires to maintain a minimum ending inventory equal to 10 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $13,600. Assume that all purchases are made on account. Prepare an inventory purchases budget. October November December Inventory Purchases Budget Budgeted cost of goods sold Plus: Desired ending inventory Inventory needed Less: Beginning inventory Required purchases (on account) $ 168,000 21,000 189,000 16,800 $ 172,200 $ 210,000 26,250 236,250 21,000 $ 215,250 $ 262,500 13,600 276,100 26,250 $ 249,850 Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F. Required G Required H Required I Required ] The company pays 80 percent of accounts payable in the month of purchase and the remaining 20 percent in the following month. Prepare a cash payments budget for inventory purchases. (Round your final answers to the nearest whole dollar amounts.) November December October Schedule of Cash Payments Budget for Inventory Purchases Payment of current month's accounts payable $ 137,760 Payment for prior month's accounts payable Total budgeted payments for inventory $ 137,760 $ 172,200 34,440 $ 206,640 $ 199,880 43,050 $ 242,930 (Required C Required E > Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Required H Required I Required ] Prepare a selling and administrative expenses budget. December 19,600 October November Selling and Administrative Expense Budget Salary expense $ 19,600 $ 19,600 Sales commissions Supplies expense 5,600 7,000 Utilities 3,000 3,000 Depreciation on store fixtures 5,600 5,600 Rent 6,400 6,400 Miscellaneous 2,800 2,800 Total S&A expenses $ 43,000 $ 44,400 8,750 3,000 5,600 6,400 2,800 46,150 $