QE At March 31st Streuling Enterprises, a merchandising firm, had an inventory of 38,000 units, and it had accounts receivable totaling $85,000. Sales, in units, have been budgeted as follows for the next four months: 1 April May 60,000 75,000 Fin lune 90,000 July 81,000 Tin Streuling's Board of Directors has established a policy to commence in April that the inventory at the end of each month should contain 40% of the units required for the following month's budgeted sales. The selling price is $2.00 per unit One-third of sales are paid for by customers in the month of the sale, the balance is collected in the following month. Required: a) Prepare a merchandise purchases budget showing how many units should be purchased for each of the months April May, and June (9 marks) b) Prepare a schedule of expected cash collections for each of the months April, May, and June (12 marks)