need help getting started with this

2:32 PM Homework: Chapter 7 Homework Save Score: 0 of 1 pt 1 of 4 (3 complete) FAM7-A1 (similar to) HW Score: 75%, 3 of 4 pts Question Help You are the new manager of the local Pattison Electronics store. Top management of Pattison Electronics is convinced that management training should include the active participation of store managers in the budgeting process. You have been asked to prepare a complete master budget for your store for June, July, and August. All accounting is done centrally so you have no expert help on the premises. In addition, tomorrow the branch manager and the assistant controller will be here to examine your work, at that time, they will assist you in formulating the final budget document. The idea is to have you prepare the initial budget on your own so that you gain more confidence about accounting matters. You want to make a favorable impression on your superiors, so you gather the following financial statement and sales data as of May 31, 20X8: EER (Click the icon to view the data.) i(Click the icon to view the additional information.) Read the requirements Requirement 1. Prepare a budgeted income statement for the coming June through August quarter, a cash budget for each of the next three months and a budgeted balance sheet for August 31, 20X8. All operations are evaluated on a before-income-tax basis, so income taxes may be ignored here. Before we prepared the budgeted income statements, cash budgets, and budgeted balance sheet, let's prepare a sales budget, a schedule of cash collections from customers, a purchases budget, a schedule of cash disbursements for purchases, and a schedule of operating expenses and disbursements for expenses (except interest.) Begin by preparing the sales budget for the June through August quarter. Schedule a: Sales budget June July August i Data Table X Credit sales Cash sales Cash 7 900 Recent and Projected Sales Total sales Inventory 184 800 April 130 300 Accounts receivable 00 100 May 30 005 Net furniture and fixtures 45.000 280.903 Totalassets 337 800 70.005 Accounts payable 49 805 August 1701200 Ownerslequid 33 000 Septem 30.200 Totelliabilities Enter any number in the edit fields and then click Check Answer. and own eisllequities FET 600 Check Answer 13 parts remaining