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please help! thanks in advance Required information The foliowing informaton opplies to the questions disployed below] We reolly need to get this new material handing

please help!
thanks in advance
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Required information The foliowing informaton opplies to the questions disployed below] We reolly need to get this new material handing equipment in operotion just ofter the new year begins, I hope we can finonce it lorgely with cash and marketable securities, but if necessory we con get o short-term loon down at Metrobonk" This stotement by Beth Dovies.Lowry, president of Imtercootal Electronics Compony, concluded e meesing she hod colled With the firm's top management. Intercoastal is o smell, rapidly growing wholesaler of consuimer electronic products. The firm's moin product lines ore smoll kitchen opplisnces and power tools, Morcio Poloaky, Intercoantal's Generol Manoger of Marketing. has recently completed o soles forecost. She believea the compory s sales during the first quorter of 20 xt will increose by 10 percent eoch month over the previous month's soles. Then Polosky expects isles to remoin constant for several months. Intercoostal's projected bolonse sheet os of December 31,200, it as follows: Joequin Rofoel, the assistent controller, is now preporing o monthly budget for the frst quarter of 20x1, in the process, the following informotion has been sccumulated: 1. Projected soles for December of 200 ore $600,000. Crecit soles typically ore 60 percent of tocal zolen. intercosstal's credit experience indicotes that 30 percent of the credit soles ore collected during the month of sole, and the remoinder are collected during the following momth. 2 Intercoomal's cost of goods sold generelly runs at 70 percent of soles, inventory is purchosed on account, and 50 percent of eoch month's purchases ore poid during the month of purchsse. The remainder is poid during the following month, in order to hove odequote stocks of inventory on hond, the firm ottempts to hove inventory ot the end of each month equal to half of the next monthis projected cost of goods sold. 3. Rofoel has estimated that intercosstol's other monthly expenies wil be as follows: In oddition, soles commissions run at the rote of 2 percent of soles. 4. Intercoortsl's president, Dovies Lowry, hos indicated that the firm should invest $120,000 in an outomoted inventoryhandling system to control the movement of inventory in the firm's worehouse just after the new year begins. These equipment purchases will be financed primarily from the firm's cash and morketable securities. However, Dovies-Lowry believes thot Intercoestal needs to keep a minimum cosh bolonce of $40,000. If necessory. the remainder of the equipment purchoses will be financed using short-term credit from a local bank. The minimum period for such a loan is three months. Pafoel believes short-term interent rotes will be 10 percent per year ot the time of the equipment purchases. If a loan ia necessory, Dovies-Lowry hos decided it should be poid off by the end of the first quarter if possible 5. Intercoastal's board of directors has indicoted en intention to declore and poy dividends of $50,000 on the lost day of each querter. 6. The inserest on any short-term borrowing will be paid when the loon is repaid. Interest on intercoostals bonds is poid semionnually on Jonuory 31 and July 31 for the preceding six-month period. 7. Property toxes are poid iemiannuoly on Februery 28 and August 31 for the preceding six-month period Requitred: Required: Prepare Intercosstal Electronics Compony's moster budget for the first quorter of 20x by completing the following Required information The foliowing informaton opplies to the questions disployed below] We reolly need to get this new material handing equipment in operotion just ofter the new year begins, I hope we can finonce it lorgely with cash and marketable securities, but if necessory we con get o short-term loon down at Metrobonk" This stotement by Beth Dovies.Lowry, president of Imtercootal Electronics Compony, concluded e meesing she hod colled With the firm's top management. Intercoastal is o smell, rapidly growing wholesaler of consuimer electronic products. The firm's moin product lines ore smoll kitchen opplisnces and power tools, Morcio Poloaky, Intercoantal's Generol Manoger of Marketing. has recently completed o soles forecost. She believea the compory s sales during the first quorter of 20 xt will increose by 10 percent eoch month over the previous month's soles. Then Polosky expects isles to remoin constant for several months. Intercoostal's projected bolonse sheet os of December 31,200, it as follows: Joequin Rofoel, the assistent controller, is now preporing o monthly budget for the frst quarter of 20x1, in the process, the following informotion has been sccumulated: 1. Projected soles for December of 200 ore $600,000. Crecit soles typically ore 60 percent of tocal zolen. intercosstal's credit experience indicotes that 30 percent of the credit soles ore collected during the month of sole, and the remoinder are collected during the following momth. 2 Intercoomal's cost of goods sold generelly runs at 70 percent of soles, inventory is purchosed on account, and 50 percent of eoch month's purchases ore poid during the month of purchsse. The remainder is poid during the following month, in order to hove odequote stocks of inventory on hond, the firm ottempts to hove inventory ot the end of each month equal to half of the next monthis projected cost of goods sold. 3. Rofoel has estimated that intercosstol's other monthly expenies wil be as follows: In oddition, soles commissions run at the rote of 2 percent of soles. 4. Intercoortsl's president, Dovies Lowry, hos indicated that the firm should invest $120,000 in an outomoted inventoryhandling system to control the movement of inventory in the firm's worehouse just after the new year begins. These equipment purchases will be financed primarily from the firm's cash and morketable securities. However, Dovies-Lowry believes thot Intercoestal needs to keep a minimum cosh bolonce of $40,000. If necessory. the remainder of the equipment purchoses will be financed using short-term credit from a local bank. The minimum period for such a loan is three months. Pafoel believes short-term interent rotes will be 10 percent per year ot the time of the equipment purchases. If a loan ia necessory, Dovies-Lowry hos decided it should be poid off by the end of the first quarter if possible 5. Intercoastal's board of directors has indicoted en intention to declore and poy dividends of $50,000 on the lost day of each querter. 6. The inserest on any short-term borrowing will be paid when the loon is repaid. Interest on intercoostals bonds is poid semionnually on Jonuory 31 and July 31 for the preceding six-month period. 7. Property toxes are poid iemiannuoly on Februery 28 and August 31 for the preceding six-month period Requitred: Required: Prepare Intercosstal Electronics Compony's moster budget for the first quorter of 20x by completing the following

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