Required information The following information applies to the questions displayed below) Dume Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below Durne Corporation Assets Cach Accounts receivable Plant and quant, net of depreciation Total Lilities Stockholders Equity Costock nings 141.00 73.50 234, $ 514,50 55. 310.00 5 514.500 The company managers have made the following additional assumptions and estimates 1. Estimated sales for July August September, and October will be $350,000, 5370.000 $360,000 and $380.000, respectively 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and in the month following the sale. Al of the accounts recebeature 30 will be collected in July 3. Each month's ending inventory must equal 30of the cost of next month's sales. The cost of goods sold is 70s of sales. The company ways for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June will be paid in fly 4 Monthly selling and administrative expenses are always $46.000 Each month $7000 of this total amount is depreciation expense and the remaining 9.000 relates to expenses that are paid in the month they are incurred 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30 How much is the company's expected cash collections in the month of August Required information pays for 40% of its merchandise purchases in the month of the purchase 4. Monthly selling and administrative expenses are always $46.000. Each month $7000 of this total amount is depreciation expense and the remaining $39.000 relates to expenses that are pad in the month they are incurred 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30 How much is the company's expected cash collections in the month of August Multiple Choice 529.500 $227.500 5357000 O $240.500 www.month following the sale All of the accounts recebe June 30 will be collected in July 3. Each month's ending inventory must equal 30% of the cost of next mont's sales. The cost of goods sold 70% of sales. The company pays for cox of merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in 4 Monthly selling and administrative expenses are always $46.000. Each more $7000 of our is depreciation expense and the remarin 539.000 relates to expenses that are paid in the morth they are incurred 5. The company does not plan to borrow money or pay or declare dividends during the quartet ended September. The company does not plan to me any common stock or repurchase its own stock during the quarter ended September 30 How much is the company's expected cash disbursement for merchandise in the month of Me Choice S85.000 O 5520 O $184680 hemoth following the sale of the accounts receivable June 30 will be pays for 40% of its merchandise purchases in the more of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $45.000 Each month 57000 of the total amount is depreciation expense and the remaining 579.000 relates to expenses that are pad in the more they are incurred 5. The company does not plan to borrow money or pay or declare dividends during the quartet ended September 30. The company does not plan to issue any common stock or repurchases own stock during the quarter ended September 30 How much is the company's expected merchandise purchases in the month of September? Me Choice $256,200 $3310 5249.200 of the accounts receivable at ne 30 will be pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. Asofe accounts payable 30 wib pada 4 Monthly selling and administrative expenses are always $46.000 Each month $7,000 of this montis deprecation expense and the romaning 579.000 es to expenses that are pad in the months they are incurred 5. The company does not plan to borrow money or pay or declare dividends during the battended September 30. The company does not plan to out any common stock or repurchase its own stock during the quarter ended September 30 How much is the company's expected Net Operating income for the quartetong on September 307 Maple Choice 24000 O 000 O 5942.000 SLOBO.000 pays for 40% of its merchandise purchases Being and administrative expenses are always $46,000. Each month $7000 of this total amount is depreciation expense and the remaining 539,000 relates to expenses are incurred 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or rep quarter ended September 30 How much is the company's expected Accounts Receivable balance on September 30? Multiple Choice $234.000 $240, 500 $125.000 $366.500