Susny and Cleat, inc, is a small wholesale ditributer of conumer goodh. The compary cenerates a gross mugen shown in the blue table. The percent of cash sales is shown in the blue table; the remainder is sold on account and is collected one month later. The company plams for each month's ending inentory to be the the table percentage of the following monts's budgeted cent of eoods sold. imvetory can purchaies are whoen in the blue table; the reat is paid for is the followind month, The acceunts parable eommissiens, \$9.000, rent, \$1.200, other epenses festudine desrediatien), are efflected in the blue able at o perctnt of sales. Oepreciation is 51, 100 for the quarter and indudes depreciation on cew assets aseuired during the guartec. The amets acouired for cavis during the euarter induded equipment of $2,100 in huly and $3,000 in Aupre. The compary wishes to maintain a borrow in increments of \$1,000 at the beginhing of each month frem a local bank, up to a total loas balance of \$30.000. The intereit rate en theie laans is 1.5% per month, and intereat is not compounded. The compans, when able, repays the iean plus accumulated interest at the end of the quarter. Matitienal information: \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Arquiret: Using the date above, for cuarter ending September 2020 , prepare the folowing on the "Budere Schedules" tab. 4. The schedule of the expected cash collections b. The merchandie purchaies buteet: c. The schedule of eapected can disburements - menchandice purchases. d. shodile of expected cash disburnement -Seling and adminiatrative experset in The cank budeot: t An absergtion coiting inceme sutement, for the quarter ending Steptember 2030 8. A balance sheet at of Sestember 30,2020 "Provide a shoct inite up [2-3 paragraphs] of the castlow titation at this company after you completed the boderta. What are your concerna and what would you recemmend to management? Aequired: Uing formilat with celi refernces to the daca in the "Data Source" tab, prepare the following for the quarter endiry September 2020 : a. The schedule of the expected cash collections b. The merchandine purchanes budiet c. The schedele of empectet cash diburnementr- metchand se purchases d. sobedile of expected calh dichurement -Selling and adminotrative expenses 4. The cain budet t An absorptien costing income tatement, for the quater endine Seplember 2030 i A bulance theet as of September 30,2020 . Schedule of Expected Cash Collectlons 6. Sunn and Cleac, inc. Noworbiten Costing income Statement for the Quarter finded Sieptember 30, 2000 Merchandise Purchase Pudget 6. Sunew and Cleas inc. Balance Sheet. September 30,2020 Schedule of Expected Cash Oisburaments - Merchandise Purchases Schedule of Expected Cash Dibunments + Selling and Adminhtrative Expenses
