provided the inform and data i have already done looking for help on the blanks

Solom. Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first uree months of operation. As budget coordinator, you have been assigned the following tasks: Required a. October sales are estimated to be $310.000, of which 45 percent will be cash and 55 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. c. The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $13,300. Assume that all purchases are made on account. Prepare an inventory purchases budget. d. The company pays 80 percent of accounts payable in the month of purchase and the remaining 20 percent in the following month. Prepare a cash payments budget for inventory purchases. e. Budgeted selling and administrative expenses per month follow: Salary expense (fixed) Sales commissions Supplies expense Utilities (fixed) Depreciation on store fixtures (fixed) Rent (fixed) Miscellaneous (fixed) $19,300 4. of Sales 2. of Sales $ 2,700 $5,300 $ 6,100 $ 2,500 *The capital expenditures budoet indicates that Solomon will spend $160.200 on October 1 for store fixtures, which are expected to "The capital expenditures budget indicates that Solomon will spend $160,200 on October 1 for store fixtures, which are expected to have a $33,000 salvage value and a two-year (24-month) useful life. Use this information to prepare a selling and administrative expenses budget. f. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. g. Solomon borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $25,000 cash cushion. Prepare a cash budget. Complete this question by entering you answers in the tabs below. Required A Required Required E Required B Required D Required G Required F October sales are estimated to be $310,000, of which 45 percent will be cash and 55 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. October November December Sales Budget Cash sales Sales on account $ 139,500 $ 170,500 167,4001 s 204,600 200,880 245,520 11don Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Required F Required G October sales are estimated to be $310,000, of which 45 percent will be cash and 55 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. October November December $ Sales Budget Cash sales Sales on account Total budgeted sales 139,500 170,500 310,000 $ 167,400 $ 204,600 372,000 $ 200,880 245,520 446,400 $ Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. October November December $ 139,500 $ Schedule of Cash Receipts Current cash sales Plus collections from A/R Total collections 167,400 $ 170,500 337,900 $ 200,880 204,600 405,480 $ 139,500 $ Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Required F Required G Required The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $13,300. Assume that all purchases are made on account. Prepare an inventory purchases budget. October November December $ Inventory Purchases Budget Budgeted cost of goods sold Plus: Desired ending Inventory Inventory needed Less: Beginning inventory Required purchases (on account) 217,000 $ 52,080 269,080 260,400 $ 62,496 322,896 52,080 270,816 S 312,480 13,300 325,780 62,496 263,284 0 $ 269,080 $ Complete this question by entering your answers in the tabs below. Required A Required B Required C Refuired D Required E Required F Required G The company pays 80 percent of accounts payable in the month of purchase and the remaining 20 percent in the following month. Prepare a cash payments budget for inventory purchases. (Round your final answers to the nearest whole dollar amounts.) October November December Schedule of Cash Payments Budget for Inventory Purchases Payment of current month's accounts payable $ 215,264 $ 216,653 $ 210,627 Payment for prior month's accounts payable 53,816 54,163 Total budgeted payments for inventory $ 215,264 $ 270,469 $ 264,790 Complete this question by entering your answers in the tabs below. Required A Required B Required c Required D Required E Required F Required G Prepare a selling and administrative expenses budget. November December October Selling and Administrative Expense Budget Salary expense Sales commissions Supplies expense Utilities Depreciation on store fixtures Rent Miscellaneous Total S&A expenses $ 0 $ 0 S 0 Complete this question by entering your answers in the tabs below. Required A Required B Required c Required D Required E Required F Required G Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. November December October Schedule of Cash Payments for S&A Expenses Salary expense Sales commissions Supplies expense Utilities Depreciation on store fixtures Rent Miscellaneous Total payments for S&A expenses $ 0 $ 0 $ 0 Solomon borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $25,000 cash cushion. Prepare a cash budget. (Any repayments/shortage which should be indicated with a minus sign.) Show less Cash Budget October November December Section 1: Cash Receipts 0 0 0 Total cash available Section 2: Cash Payments 0 0 0 Total budgeted disbursements Section 3: Financing Activities 0 0 0 $ 0 $ 0 $ 0