REQUIRED: Using the data above, prepare the following schedules and statements for the third quarter of Your presentation of the schedules must be professional with appropriate headings, spacing, spelling, and underlining. In addition, all numbers in the same column must be aligned as discussed in class (i.c., points will be deducted if the numbers do not align). When printing your output, you may include more than one schedule on each page. However, make sure that no schedule appears across two pages. For example, if you print out your submission and find that schedules 1, 2, 3, 4 and only part of schedule 5 appear on your first printed page and the rest of schedule 5 appears on the next page, use a page break after schedule 4 or space down to force schedule 5 to appear in whole on the next page. As you type in the data below for the July column, make sure you understand how each number is generated or calculated. The heading "Q3" in the last column stands for third quarter and you should either put the total for the quarter or the quarterly beginning or ending balance in that column ase appropriate. 1. Schedule of Expected Cash Collections: Collection of Cash Sales JUL $180,000 AUG SEP Q3 Credit Sales: Collected Month of Sale 210,000 Collected Month after Sale 175,000 Total Collections $565,000 2. Inventory Purchases Budget: Budgeted Cost of Goods Sold Add Desired Ending Inventory Total Inventory Needs JUL AUG SEP Q3 $330,000 57,750 $387,750 100,000 $287,750 Deduct Beginning Inventory Total Purchases 3. Schedule of Cash Disbursements - Inventory Purchases: Inventory Purchases: Paid Month of Purchase Paid Month after Purchase Total Cash Disbursements JUL $115,100 110,000 $225,100 4. Schedule of Cash Disbursements - Operating Expenses: JUL Operating Expenses: Salaries and Wages $170,000 Shipping 12,000 Advertising 12,500 Total Cash Disbursements $194,500 AUG SEP Q3 AUG SEP Q3