Please answer ALL requirements and show calculations.

P6-39 (final answer) Question Help On December 1, 2014, the lanni Wholesale Co. is attempting to project cash receipts and disbursements through January 31, 2015. On this later date, a note will be payable in the amount of $108,000. This amount was borrowed in September to carry the company through the seasonal peak in November and December All purchases are payable within 15 days. Approximately 60% of the purchases in a month are paid that month and the rest the following month. The average unit purchase cost is $140. Target ending inventories are 580 units plus 15% of the next month's unit sales. (Click the icon to view the additional information.) E(Click the icon to view the general ledger balances.) Read the requirements (Click the icon to view the additional information.) (Click the icon to view the actual and projected sales.) Requirement 1. Prepare a cash budget for December 2014 and January 2015. Supply supporting schedules for collections of receivables, payments for merchandise; and marketing, distribution, and customer-service costs. Begin by entering the appropriate amounts to calculate the collection of receviables for December 2014 and January 2015. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) Collections of Receivables January 2015 December 2014 From sales in: October November December January Total Enter any number in the edit fields and then click Check Answer. .X Data Table Selected general ledger balances on December 1 are as follows: Cash 90,000 Inventory 121,800 Accounts payable 133,000 $ Print Done X i More Info Sales terms call for a 3% discount if payment is made within the first 10 days after the sale, with the balance due by the end of the month after sale. Experience has shown that 60% of the billings will be collected within the month of the purchase, 20% by the end of the month after purchase, and 10% in the following month. The remaining 10% will be uncollectible. There are no cash sales Print Done Data Table The average selling price of the company's products is $180 per unit. Actual and projected sales are as follows: October actual 288,000 684,000 November actual 612,000 December estimated January estimated 666,000 February estimated 324,000 Total estimated for year ending June 30, 2015 2,600,000 Print Done - X iMore Info Total budgeted marketing, distribution, and customer-service costs for the year are $680,000. Of this amount, $160,000 are considered fixed (and include depreciation of $47,200). The remainder varies with sales. Both fixed and variable marketing, distribution, and customer-service costs are paid as incurred. Print Done Requirements 1. Prepare a cash budget for December 2014 and January 2015. Supply supporting schedules for collections of receivables; payments for merchandise; and marketing, distribution, and customer-service costs. 2. Why do lanni's managers prepare a cash budget in addition to the operating income budget? Print Done X P6-39 (final answer) Question Help On December 1, 2014, the lanni Wholesale Co. is attempting to project cash receipts and disbursements through January 31, 2015. On this later date, a note will be payable in the amount of $108,000. This amount was borrowed in September to carry the company through the seasonal peak in November and December All purchases are payable within 15 days. Approximately 60% of the purchases in a month are paid that month and the rest the following month. The average unit purchase cost is $140. Target ending inventories are 580 units plus 15% of the next month's unit sales. (Click the icon to view the additional information.) E(Click the icon to view the general ledger balances.) Read the requirements (Click the icon to view the additional information.) (Click the icon to view the actual and projected sales.) Requirement 1. Prepare a cash budget for December 2014 and January 2015. Supply supporting schedules for collections of receivables, payments for merchandise; and marketing, distribution, and customer-service costs. Begin by entering the appropriate amounts to calculate the collection of receviables for December 2014 and January 2015. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) Collections of Receivables January 2015 December 2014 From sales in: October November December January Total Enter any number in the edit fields and then click Check Answer. .X Data Table Selected general ledger balances on December 1 are as follows: Cash 90,000 Inventory 121,800 Accounts payable 133,000 $ Print Done X i More Info Sales terms call for a 3% discount if payment is made within the first 10 days after the sale, with the balance due by the end of the month after sale. Experience has shown that 60% of the billings will be collected within the month of the purchase, 20% by the end of the month after purchase, and 10% in the following month. The remaining 10% will be uncollectible. There are no cash sales Print Done Data Table The average selling price of the company's products is $180 per unit. Actual and projected sales are as follows: October actual 288,000 684,000 November actual 612,000 December estimated January estimated 666,000 February estimated 324,000 Total estimated for year ending June 30, 2015 2,600,000 Print Done - X iMore Info Total budgeted marketing, distribution, and customer-service costs for the year are $680,000. Of this amount, $160,000 are considered fixed (and include depreciation of $47,200). The remainder varies with sales. Both fixed and variable marketing, distribution, and customer-service costs are paid as incurred. Print Done Requirements 1. Prepare a cash budget for December 2014 and January 2015. Supply supporting schedules for collections of receivables; payments for merchandise; and marketing, distribution, and customer-service costs. 2. Why do lanni's managers prepare a cash budget in addition to the operating income budget? Print Done X