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The following trial balance was drawn from the records of Jordan Company as of October $1,$ year $2.$

equired

$-1.$ Based on the following information, prepare a sales budget and a schedule of cash receipts for October, November, and

December. Sales for October are expected to be $$240,000,$ consisting of $$49,000$ in cash and $$191,000$ on credit. The company

expects sales to increase at the rate of $10$ percent per month. All accounts receivable are collected in the month following the

sale.

a$-2.$ Based on the following information, prepare a purchases budget and a schedule of cash payments for inventory purchases for

October, November, and December. The inventory balance as of October $1$ was $$44,500.$ Cost of goods sold for October is

expected to be $$76,500.$ Cost of goods sold is expected to increase by $10$ percent per month. The company expects to maintain

a minimum ending inventory equal to $20$ percent of the current month cost of goods sold. Eighty percent of accounts payable is

paid in the month that the purchase occurs; the remaining $20$ percent is paid in the following month.

a$-3.$ Based on the following selling and administrative expenses budgeted for October, prepare a selling and administrative expenses

budget for October, November, and December.

ash payments for sales commissions and utilities are made in the month following the one in which the expense is incurred. Supplies

nd other operating expenses are paid in cash in the month in which they are incurred.

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Req A$2$

Based on the following information, prepare a sales budget and a schedule of cash receipts for October, November, and

December. Sales for October are expected to be $$240,000,$ consisting of $$49,000$ in cash and $$191,000$ on credit. The

company expects sales to increase at the rate of $10$ percent per month. All accounts receivable are collected in the month

following the sale.