Required Informetion The following information appliles to the questions dispiayed below.j CompUSA Inc. sells computer hardware. It also markets related software and software-support services. The company prepares annual forecasts for sales, of which the first six months of 2019 are given below In a typical month, total sales are broken down as follows: cash sales, 30%; VISA credit card sales, 65% and 5% open account (the company's own charge accounts). For budgeting purposes, assume that cash sales plus bank credit card sales are received in the month of sale; bank credit card sales are subject to a 3% processing fee, which is deducted dally at the time of deposlt Into CompUSA's cash account with the bank. Cash recelpts from collection of accounts recelvable typically occur as follows: 20% in the month of sale, 50% in the month following the month of sale, and 27% in the second month following the month of sale. The remalning recelvables generally turn out to be uncollectible CompUSA's month-end inventory requirements for computer hardware units are 30% of the following month's estimated sales. A one-month lead time Is required for delivery from the hardware distributor. Thus, orders for computer hardware units are generally placed by CompUSA on the 25th of each month to ensure avallabillity In the store on the first day of the month needed. These units are purchased on credit, under the following terms: n/45, measured from the time the units are dellvered to CompUSA. Assume that CompUSA takes the maximum amount of time to pay its Invoices. On average the purchase price for hardware units runs 60% of selling price. CompUSA Inc Forecasted Sales (units and dollars) January-June 2819 Software/ Number of Units Hardware Total Sales Sales 13e 148 18e 9e $455,880 January February March April Ma June 49e,888 358,8ee 315,880 428,88e 455,888 156,880 176,8e0 146, 800 141,e8e 166,88e 156,808 S 941,88e 611,888 666,88e 496,888 456,88e 586,880 611,808 $ 3,426,880 130 Totals 18 2,485,88e Required Informetion The following information appliles to the questions dispiayed below.j CompUSA Inc. sells computer hardware. It also markets related software and software-support services. The company prepares annual forecasts for sales, of which the first six months of 2019 are given below In a typical month, total sales are broken down as follows: cash sales, 30%; VISA credit card sales, 65% and 5% open account (the company's own charge accounts). For budgeting purposes, assume that cash sales plus bank credit card sales are received in the month of sale; bank credit card sales are subject to a 3% processing fee, which is deducted dally at the time of deposlt Into CompUSA's cash account with the bank. Cash recelpts from collection of accounts recelvable typically occur as follows: 20% in the month of sale, 50% in the month following the month of sale, and 27% in the second month following the month of sale. The remalning recelvables generally turn out to be uncollectible CompUSA's month-end inventory requirements for computer hardware units are 30% of the following month's estimated sales. A one-month lead time Is required for delivery from the hardware distributor. Thus, orders for computer hardware units are generally placed by CompUSA on the 25th of each month to ensure avallabillity In the store on the first day of the month needed. These units are purchased on credit, under the following terms: n/45, measured from the time the units are dellvered to CompUSA. Assume that CompUSA takes the maximum amount of time to pay its Invoices. On average the purchase price for hardware units runs 60% of selling price. CompUSA Inc Forecasted Sales (units and dollars) January-June 2819 Software/ Number of Units Hardware Total Sales Sales 13e 148 18e 9e $455,880 January February March April Ma June 49e,888 358,8ee 315,880 428,88e 455,888 156,880 176,8e0 146, 800 141,e8e 166,88e 156,808 S 941,88e 611,888 666,88e 496,888 456,88e 586,880 611,808 $ 3,426,880 130 Totals 18 2,485,88e