Merchandiser Company's actual and budgeted data for several months are shown below. Merchandise Month January (actual) $100,000 S36,000 February (actual) $60,000 $42,000 March April May June Jul Sales Purchases $70,000 $48,000 $80,000 $45,000 $75,000 $39,000 $65,000 36.000 $60,000 $42.000 Prepare a schedule of expected cash collections for April - June. Assume, Merchandiser collects after the sale. Merchandiser pays for 40% of its merchandise purchases in the month of the purchase and 60% A. 40% of its sales the month of the sale, 35% the following month, and 23% the second month B. Prepare a schedule of cash disbursements for April - June merchandise purchases. Assume the month after the purchase. C. Prepare a cash budget for April, May, and June assuming the following additional information: The beginning cash balance on April 1 is $20.000 and Merchandiser wants to maintain a On Aprillt Merchandiser owed $40,000 on its line of credit. The bank requires interest . Selling and administrative expenses are budgeted at $5,000 per month plus 10% of that minimum cash balance of $20,000. Merchandiser has a line of credit in place with its bank that allows it to borrow at an annual rate of 15.6%. payments be made each month based on the loan balance from the previous month. Dividends of $3,000 are paid each month. month's sales. Depreciation accounts for $2,000 of the $5,000 selling & administrative costs. Merchandiser expects to purchase equipment costing $40,000 in April and expects to sell land for $80.000 in May