Midland Company buys tiles and prints different designs on them for souvenir and gift stores. It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the tiles needed for three months' sales. The tiles cost $0,75 each and must be paid for in cash. The company has 28,000 tiles in stock Sales estimates, based on contracts received, are as follows for the next six months January February March April May June 12,900 18,000 12,500 15,100 10,600 6,500 Required: 6. & b. Estimate purchases (in units) and cash required to make purchases in January February, and March MIDLAND COMPANY Merchandise Purchases Budget For the Period Ended March 31 (in units) January February Units to be purchased Estimated cost March Ewing Company is preparing a cash budget for September. The following information on accounts recewable collections is available from past collection experience Percent of current month's sales collected this month Percent of prior month's sales collected this month Percent of sales two months prior to current month collected this month Percent of sales three months prior to current month collected this month 56 2 The remaining 5 percent is not collected and is written off as bad debts. Credit sales to date are as follows. 5 September estimated Augus Suly June $130,000 117.000 90,000 107.000 Required: What are the estimated cash receipts from accounts receivable collections in September? Estimated cost receipts