Management of Benson Company (Benson) have gathered the following information for their budgeting process.

Current assets as of March 31:

Cash$43,000

Accounts receivable54,000

Inventory97,200

Plant and equipment, net236,000

Accounts payable81,200

Capital shares320,000

Retained earnings29,000

1. The gross margin as a percentage of sales is 25%. (Hint: use this information to determine the budgeted COGS values for the Schedule of Inventory purchases).
2. The actual and budgeted sales data informationfollows:

March (actual)$135,000

April162,000

May174,000

June192,000

July133,000

1. Typically, sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales.
2. At the end of each month, inventory on hand needs to be equal to 80% of the following month's sales needs, stated at cost.
3. One-half of a month's inventory purchases are paid for in the month of purchase; the other half are paid for in the following month. The accounts payable at March 31 are a result of March purchases of inventory.
4. The company also incurs monthly expenses as follows: salaries and wages, 12% of sales; rent, $9,500 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $2,600 per month (includes depreciation on new assets).
5. Equipment costing $3,200 will be purchased for cash in April.
6. Aminimum cash balance of $11,000is required. An open line of credit is available at a local bank. All borrowing is done at the beginning of a month, and all repayments are made at the end of a month; borrowing must be in multiples of $1,000. The annual interest rate is 12%. Interest is paid only at the time of repayment of principal; figure interest on whole months (1/12, 2/12, and so forth).

Required:

Using the preceding data:

1.Prepare the schedule of expected cash collections.

Benson

Schedule expected cash collection.

April May june Quater

Cash sales

Credit sales

Total cash collections

2.Prepare the schedule of inventory purchases and a schedule of expected cash disbursements for purchases. (Hint: begin with the budgeted cost of goods sold).

3.Prepare the schedule of expected cash disbursements for operating expenses.

4.Prepare the cash budget by month and for the quarter in total.(Any "Repayments" and "Interest" should be indicated by a minus sign.)

Note: i could put in the table. but there are similar questions you can check out figure out the tables