Required informetion Problem 14-21 (Algo) Cash budget-part 1 LO 14-4, 14-7 The following information opplies to the questions displayed beiow] PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management's most optimistic projections. Sales are made on account and collected as follows. 515 in the month after the sale is made ond 46% in the second month after sale. Merchandise purchases and operating expenses are paid as follows: In the month during which the merchandise is purchased or the cost is incurred 800.80 In the subsequent month Primetime Sportswear's income statement budget for each of the next four months, newly revised to reflect the success of the firm, follows: Cast on hand June 30 is estimated to be $40.280. Colfections of June 30 accounts receivable were estimated to be $19.550 in July and $15.470 in August. Payments of June 30 accounts payable and accrued expenses in July were estimated to be $24,080. Required: a. Prepare a ash budget for July. Problem 14-21 (Algo) Cash budget-part 1 LO 14-4, 14-7 [The following information applies to the questions displayed below] PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management's most optimistic projections. Sales are made on account and collected as follows: 51% in the month after the sale is made and 46% in the second month after sale. Merchandise purchases and operating expenses are paid as follows: In the month during which the merchandise is purchased on the cost is incurred In the subsequent month PrimeTime Sportswear's income statement budget for each of the next four months, newly revised to reflect the success the firm, follows: Cash on hand June 30 is estimated to be $40,280. Collections of June 30 accounts recelvable were estimated to be $19,550 in July and $15,470 in August. Payments of June 30 accounts payable and accrued expenses in July were estimated to be $24,080 roblem 14-21 (Algo) Part b b. What is your advice to management of PrimeTime Sportswear? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a c answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a ques will be automatically graded as incorrect. Secure mote finance through sale of bonds Accelerate the collection of accounts recenvable Slow down the collection of accounts receivable Accelerate the payments of accounts payabie. ? slow down the payment of accounts payable