Required:

Using the president's new assumptions in $($a$)$ above, prepare a schedule of expected cash collections for April, May, and June and

for the quarter in total.

Using the president's new assumptions in $($b$)$ above, prepare the following for merchandise inventory:

a$.$ A merchandise purchases budget for April, May, and June.

b$.$ A schedule of expected cash disbursements for merchandise purchases for April, May, and June and for the quarter in total.

Using the president's new assumptions, prepare a cash budget for April, May, and June, and for the quarter in total.

Complete this question by entering your answers in the tabs below.

Using the president's new assumptions in $($a$)$ above, prepare a schedule of expected cash collections for April, May, and June

and for the quarter in total. Complete this question by entering your answers in the tabs below.

Required $2A$

Required $2$B

Using the president's new assumptions in $($b$)$ above, prepare the following for merchandise inventory, a merchandise purchases budget for April, May, and June.

$\backslash$table$[[$Merchandise Purchases Budget$],[,$April,May,June,$],[,,,,],[,,,,],[$Total needs,,,,$],[,,,,],[$Required inventory purchases,,,,$]]$ Complete this question by entering your answers in the tabs below.

Required $2A$

Required $2B$

Required $3$

Using the president's new assumptions in $($b$)$ above, prepare Garden Sales, Incorporated, usually has to borrow money during the second quarter to support peak sales of lawn care equipment

during May. It gathered the following information to prepare a cash budget for the quarter:

a$.$ Budgeted monthly absorption costing income statements for April$-$July are:

$*$Includes $$18,000$ of depreclation each month.

b$.$ Sales are $20\%$ for cash and $80\%$ on account.

c$.$ Sales on account are collected over a three$-$month period with $10\%$ collected in the month of sale, $70\%$ collected in the first month

following the month of sale, and the remaining $20\%$ collected in the second month following the month of sale. February's sales

totaled $$175,000,$ and March's sales totaled $$230,000.$

d$.$ Inventory purchases are paid for within $15$ days. Therefore, $50\%$ of a month's inventory purchases are paid for in the month of

purchase. The remaining $50\%$ are paid in the following month. Accounts payable at March $31$ for Inventory purchases during March

total $$98,000.$

e$.$ Each month's ending inventory must equal $20\%$ of the cost of the merchandise to be sold in the following month. The merchandise

inventory at March $31$ is $$67,200.$

f$.$ Dividends of $$26,000$ will be declared and paid in April.

g$.$ Land costing $$34,000$ will be purchased for cash in May.

h$.$ The cash balance at March $31$ is $$48,000$; the company must maintain a cash balance of at least $$40,000$ at the end of each month.

I. The company has an agreement with a local bank that allows the company to borrow in Increments of $$1,000$ at the beginning of

each month, up to a total loan balance of $$200,000.$ The interest rate on these loans is $1\%$ per month, and for simplicity we will

assume interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of

the quarter.

The company's president is interested in knowing how reducing inventory levels and collecting accounts recelvable sooner will impact

the cash budget. He revises the cash collection and ending inventory assumptions as follows:

a$.$ Sales continue to be $20\%$ for cash and $80\%$ on credit. However, credit sales from April, May, and June are collected over a three$-$

month period with $25\%$ collected in the month of sale, $65\%$ collected in the month following sale, and $10\%$ in the second month

following sale. Credit sales from February and March are collected during the second quarter using the collection percentages

specified in the main section.

b$.$ The company maintains its ending inventory levels for April, May, and June at $15\%$ of the cost of merchandise to be sold in the

following month. The merchandise inventory at March $31$ remains $$67,200$ and accounts payable for inventory purchases at March

$31$ remains $$98,000.$ PLEASE PROVIDE DIRECT SOLUTIONS FOR EACH SEGMENT OF THE PROBLEM! PLUS STEP BY STEP EXPLANTIONS!