May I ask your help with the final step of this problem? I have entered what I was able to figure out.

Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow.

Units Dollars

April (actual) 3,500 $560,000

May (actual) 2,400 $384,000

June (budgeted) 5,000 $800,000

July (budgeted) 4,000 $799,000

August (budgeted) 4,300 $688,000

All sales are on credit. Recent experience shows that 26% of credit sales is collected in the month of the sale, 44% in the month after the sale, 29% in the second month after the sale, and 1% proves to be uncollectible. The product's purchase price is $110 per unit. 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 24% of the next month's unit sales plus a safety stock of 135 units. The April 30 and May 31 actual inventory levels are consistent with this policy. Selling and administrative expenses for the year are $1,212,000 and are paid evenly throughout the year in cash. The company's minimum cash balance at month-end is $140,000. This minimum is maintained, if necessary, by borrowing cash from the bank. If the balance exceeds $140,000, the company repays as much of the loan as it can without going below the minimum. This type of loan carries an annual 13% interest rate. On May 31, the loan balance is $31,000, and the company's cash balance is $140,000.

Required:

1.What is a schedule that shows the computation of cash collections of its credit sales (accounts receivable) in each of the months of June and July.

2.What is a schedule that shows the computation of budgeted ending inventories (in units) for April, May, June, and July.

3.What is 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.What is a schedule showing the computation of cash payments for product purchases for June and July.

5.What is a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month.

-Required 1 -Required 2 -Required 3 -Required 4 Required 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. Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar value.) Beginning cash balance 3; 140,000 _ Additional loan (loan repayment) (31,000) Ending cash balance 13 (31,000) _ Loan balance Beginning of month 31,000: Additional loan (loan repayment) (31 000)