Needing help with the following questions. Not 100% how to calculate/answer them

2. Exercises (p430 - 432): LO 4 9.21 From the following data for Acoustic Sales, calculate the receipts from accounts receivable for September, October and November of 2016. Actual Estimated July August September October November Credit sales $108000 $92000 $96000 $104000 $95000 Credit sales are normally settled according to the following pattern: 20 per cent in the month of the sale, 50 per cent in the month following the sale, and the remainder in the second month following the sale. LO 4 9.22 From the following data for Wang Enterprises, calculate the receipts from accounts receivable for June, July and August of 2016. Actual Estimated April May June July August Credit sales $168000 $176000 $186000 $164000 $165000 Credit sales are normally settled according to the following pattern: 60 per cent in the month following sale, and 35 per cent in the second month following the sale. Five per cent of accounts are never settled. 9.29 LO 3 9.29 Amy's Candles makes specially designed candles. The entity has recently implemented a new marketing strategy. Sales for each quarter of 2015 were as follows. Quarter ending 31 March $260000 30 June 220000 30 September 180000 31 December 240000 Due to the change in sales strategy, the marketing department at Amy's Candles expect sales to grow by 10 per cent in the first two quarters of 2016, and by 20 per cent in the second two quarters of 2016. The unit sales price will be the same as in 2015, at $20 per unit. Required Prepare a sales budget for 2016. & 9.31 LO 4, 5 9.31 Greenacres is a garden design and landscaping business. At 30 June 2016, it had a bank balance of $26500. Provided below are estimates for receipts and payments for the three months ending 30 September 2016. July August September Receipts Fees Proceeds from the sale of surplus non-current assets Payments Salaries and wages Supplies New equipment Purchase of plants $140000 $160000 $200000 100000 70000 70000 8500 9200 120000 42000 45000 70000 12000 61000 Required 1. Prepare a monthly cash budget for the three months ending 30 September 2016. 2. The owners were wondering what the effect would be on the cash position if they did not buy the new equipment, but instead took advantage of a new rental arrangement. The equivalent equipment would cost $10000 per month under the rental arrangement. Redraft the cash budget to show the impact of the rental alternative. Based on the information available, should they lease or buy the equipment? 3. Problems (p435): 9.47: LO 1, 5 9.47 Usefulness of a budgeting system Nancy Ho owns and operates the Always on Time printing company. Nancy and her staff do not engage in planning or budgeting, as they consider the business too small to warrant their attention to such matters. Recently, it has been necessary for the employees to work overtime every night in order to complete customer orders, although some customers have become frustrated and taken their business elsewhere. The backlog of orders has arisen because customers have been promised a two-day turnaround, and has been compounded by the business running out of premium paper and inks. Required Discuss how a budgeting system would assist the Always on Time printing company