Specific instructions: * EXPLAIN MATHEMATICAL EXERCISES Study the required resources of the module and particularly the illustrative exercise 16.1 to carry out this exercise. Please read carefully the financial and operational data of the JKL Corporation provided below and use it to prepare the budget for: Receipts from sales for the quarter (10 points) Purchases for the quarter (10 points) Disbursements on purchases for the quarter (10 points) Disbursements of administrative and sales expenses for the quarter (10 points) Financial and operational data of Corporacin JKL The JKL Corporation is in the trading business and is drawing up its master budget for the next quarter of operations from April to June 20xx. The data collected and necessary to work with such a budget are the following: A. Certain data from the Balance Sheet as of March 31, 20xx: Cr. Dr. Cash $20,000 Accounts receivable $64,000 Inventory $15,400 Buildings and equipment (net of depreciation) $225,000 Debts to pay Long-term debts Common shares - capital Retained earnings Totals $324,400 B. Las ventas esperadas (projected) y reales para varios meses del 20xx son: $23,400 $90,000 $150,000 $61,000 $324,400 MARCH (real) abril may june july $80,000 $79,500 $73,000 $84,500 $63,600 K. Other important information: Monthly sales are 20% in cash and 80% on credit. The credit sales of the previous month are collected in full in the following month (therefore, what is in accounts receivable at the end of March is 80% of the March sales). 2- The gross profit margin generated by the corporation on its sales is 35%. 3- The ending inventory of each month is equal to 25% of the budgeted cost of sales for the next month. 4-40% of monthly merchandise purchases are paid in the month of purchase and the remainder in the month following the purchase. 5- The expected monthly expenses are: salaries, $ 9,000; advertising, $ 5,700 per month and remaining expenses (except depreciation) represent 8.5 of sales. Assume that these expenses are paid every month (nothing is owed at the end of the month). 6- The depreciation expense is $ 10,000 for the quarter and includes the portion that corresponds to the assets acquired during the period. 7- Cash equipment was acquired: $ 24,000 in April and $ 20,000 in May 20xx. 8- Management wishes to maintain a minimum cash balance at the end of each month of $ 8,000. 9- When the business is in need of money, it can borrow from a local bank in increments of $ 1,000 at the beginning of each month up to a loan ceiling of $ 20,000. The interest rate that the bank charges on these loans is 1% per month and the interest is paid next month (we assume that it is not compound interest and that each loan is made at the end of the month). The company paid dividends of $ 4,700 in June