Please answer in a chart.

Aztec Company sells its product for $$150$ per unit. Its actual and budgeted sales follow.

All sales are on credit. Collections are as follows: $24\%$ is collected in the month of the sale, and the remaining $76\%$ is collected in the

month following the sale. Merchandise purchases cost $$110$ per unit. For those purchases, $60\%$ is paid in the month of purchase and

the other $40\%$ is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of $22\%$ of

the next month's unit sales. The May $31$ actual inventory level of $1,320$ units is consistent with this policy. Selling and administrative

expenses of $$114,000$ per month are paid in cash. The company's minimum cash balance at month$-$end is $$140,000.$ Loans are

obtained at the end of any month when the preliminary cash balance is below $$140,000.$ Any preliminary cash balance above

$$140,000$ is used to repay loans at month$-$end. This loan has a $0\mathrm{.}5\%$ monthly interest rate. On May $31,$ the loan balance is $$41,000,$ and

the company's cash balance is $$140,000.$

Required:

Prepare a schedule of cash receipts from sales for each of the months of June and July.

Prepare the merchandise purchases budget for June and July.

Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise

purchases is $$351,120.$

Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of

each month.

Complete this question by entering your answers in the tabs below.

Required $2$

Required $3$

Required $4$

Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise

purchases is $$351,120.$Aztec Company sells its product for $$150$ per unit. Its actual and budgeted sales follow.

All sales are on credit. Collections are as follows: $24\%$ is collected in the month of the sale, and the remaining $76\%$ is collected in the

month following the sale. Merchandise purchases cost $$110$ per unit. For those purchases, $60\%$ is paid in the month of purchase and

the other $40\%$ is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of $22\%$ of

the next month's unit sales. The May $31$ actual inventory level of $1,320$ units is consistent with this policy. Selling and administrative

expenses of $$114,000$ per month are paid in cash. The company's minimum cash balance at month$-$end is $$140,000.$ Loans are

obtained at the end of any month when the preliminary cash balance is below $$140,000.$ Any preliminary cash balance above

$$140,000$ is used to repay loans at month$-$end. This loan has a $0\mathrm{.}5\%$ monthly interest rate. On May $31,$ the loan balance is $$41,000,$ and

the company's cash balance is $$140,000.$

Required:

Prepare a schedule of cash receipts from sales for each of the months of June and July.

Prepare the merchandise purchases budget for June and July.

Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise

purchases is $$351,120.$

Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of

each month.

Complete this question by entering your answers in the tabs below.

Required $2$

Required $3$

Required $4$

Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise

purchases is $$351,120.$