Prepare a master budget for the three months ending June $30,2024.$ Include the following budget

schedules and financial statements:

$1)$ Sales Budget by month and total for the quarter

$2)$ Schedule of expected cash collections from sales, by month and total

$3)$ Merchandise purchases budget in units and in dollars, by month and total

$4)$ Schedule of expected cash disbursements for merchandise purchases, by month and total

$5)$ Cash Budget, by month and total

$6)$ Prepare a budgeted Income Statement for the three months ending June $30,2024.$ Use the

contribution approach.

$7)$ Prepare a budgeted Balance Sheet as of Jun $30,2024.$

$8)$ Your new manager has asked for your explanation about your experience in preparing this

budget. She specifically wants to know your thoughts on the value of all this work and

whether the benefits from the work are worth the effort. Prepare a memo $($with a heading$),$ no

longer than $2$ pages, describing your experience from this exercise and your thoughts on the

value of having a Master Budget.