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Required: 1 . Calculate the expected cash collections from customers for May . 2 . Calculate the expected cash disbursements for merchandise purchases for May

Required:1. Calculate the expected cash collections from customers for May.2. Calculate the expected cash disbursements for merchandise purchases for May.3. Prepare a cash budget for May.4. Prepare a budgeted income statement for May.5. Prepare a budgeted balance sheet as of May 31.

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