must include cell references (linking) thank you. i will like & thumbs up

6 14,000 16,000 20,000 22,000 $20 8 9 3 Lynden Sales, Inc. Budget Data 4 a) Budgeted unit sales 5 January February March April b) Selling price, per unit: 10 C) All sales are on account, there are no uncollectible accounts Percent of sales collected in the month of sale Percent of sales collected in the month following the sale Beginning Accounts Receivable balance (from Dec. sales), all of which will be collected in January 15 d) Each month's ending inventory must equal: The cost of goods sold: Beginning inventory 18 ) All merchandise purchases are on account Percent of merchandise purchases paid for in month of purcha 20 Percent of purchases paid for in the month following the purch: Accounts Payable balance at Dec 31, which will be paid in Ja 11 12 13 14 70% 30% $3,600 16 17 25% of next month's budgeted sales 55% of sales $70,000 19 40% 60% $55.000 21 22 Points Possible: 10 To receive full credit, you must use cell references (linking) when possible, and use Excel formulas for all calculated amounts. Use the data on the Given Data worksheet to complete the Sales Budget, Schedule of Expected Cash Collections, 1 Schedule of COGS, Merchandise Purchases Budget, and Schedule of Expected Cash Disbursements for Purchases 2 for Lynden Sales, Inc., a merchandising company, for the first three months of the year. 3 4 Totals will be validated to indicate whether they are correct or incorrect. January February March Quarter 17 1. Sales Budget 18 19 Budgeted unit sales 20 Selling price per unit 21 Total budgeted sales 22 23 2. Schedule of Expected Cash Collections 24 25 Accounts receivable, beginning balance 26 January sales 27 February sales 28 March sales Lab 3 Given Data January February March Quarter D E F G January February March Quarter 23 2. Schedule of Expected Cash Collections 24 25 Accounts receivable, beginning balance 26 January sales 27 February sales 28 March sales 29 Total cash collections 30 31 3. Schedule of Cost of Goods Sold 32 33 Total budgeted sales (from row 21) 34 Cost of Goods Sold % 35 Total budgeted cost of goods sold 36 37 4. Merchandise Purchases Budget 38 39 Budgeted cost of goods sold (from row 35) 40 Add desired ending inventory 41 Total needs 42 Less beginning inventory Lab 3 Given Data January February March Quarter January February March Quarter 35 Total budgeted cost of goods sold 36 January February March Quarter 37 4. Merchandise Purchases Budget 38 39 Budgeted cost of goods sold (from row 35) 40 Add desired ending inventory 41 Total needs 42 Less beginning inventory 43 Total budgeted purchases 44 January February March Quarter 45 5. Schedule of Expected Cash Disbursements 46 for Purchases 47 Accounts payable, beginning balance 48 January purchases 49 February purchases 50 March purchases 51 Total cash disbursements 52 53 54 Lab 3 Given Data