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Please solve it within 1 hour please... (Part 1) Green Depot is a retailer that is preparing it's budget for the upcoming fiscal year. Management

image text in transcribed image text in transcribed image text in transcribed Please solve it within 1 hour please...

(Part 1) Green Depot is a retailer that is preparing it's budget for the upcoming fiscal year. Management has prepared the following summary of its sales revenue y quarter 204 Quarter 3 Quarter 4 Quarter Budgeted Sales Revenue 220,000 330,000 240,000 150,000 85% of the sales revenue is collected in the quarter the sales are made and the remaining 15% is collected in the following quarter. On January qut of the current year, the company's balance sheet showed $25,000 in accounts receivable, all of which will be collected in the first quarter of the year. Bad debts are negligible and can be ignored. (Part 2) Management of Green Depot also prepared the following summary pertaining to their cost of raw materials purchase for the current year. quarter and Quarter 3 Quorter on Quarter cost of raw materials to be 250,000 120.000 210.000 10,000 purchased 70% of the cost of raw materials purchases is paid in the quarter the purchases are made, and the remaining 30% is paid in the following quarter. On January of the current year, the company's balance sheet showed $50,500 in accounts payablo, all of which will be paid for in the first quarter of tho year, (Part 3) The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded Requirements: Prepare a cash collection schedule based on part of the question and complete the following table: quarter and Quarter 3 Quarter 4 Quarter Total cash receipts 2 table Prepare a cash disbursement schedule based on part 2 of the question and complete the following quarter Quartor 3** Quarter 4th Quartet Total cash disbursements 2 2 3. Assume the company has no additional cash disbursement, other than for the raw materials purchase Now based on your answer in requirements 1 & 2 and the information in part 3 of the question prepare a cash budget for the company for the upcoming year

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