MAY UNIT 40000 50000 APRIL UNIT 60000 50000 JUNE UNIT 50000 60000 SALES MERCHANDISE PURCHASE All units will be sold on account for $15 each Cash collections from sales are budgeted at 60% in the month of sale, 30% in the following month and the remaining 10% in the second month following sale TI Accounts receivable on March 31 totalled $510,000 ($90,000 from February's sales and the remainder from March's sales) m. Merchandise purchases are budgeted at $6 per unit of these merchandise purchases, 40% are paid in the month in which they are incurred and the balance in the following month iv. The accounts payable balance on March 31 totals $192,000, will be paid in full in April. v Selling and administrative expenses (all of which are paid in cash) amounted to $120,000 per month REQUIRED (a) Prepare a Sales Budget for April, May and June for GLICE COMPANY (b) Prepare a Schedule of Expected Cash Collections for April, May and June for GLICE COMPANY (c) Prepare a Merchandise Purchases Budget for April, May and June for GLICE COMPANY (d) Prepare a schedule of Expected Cash Disbursement for April, May and June for GLICE COMPANY