Sweet Acacia Instruments, a rapidly expanding electronic parts distributor, is formulating its plans for $2022.$ Anthony Walker, the firm'sSweet Acacia Instruments, a rapidly expanding electronic parts distributor, is formulating its plans for $2022.$ Anthony Wallker, the

firm's director of marketing, has completed his $2022$ forecast and is confident that the company will meet or exceed sales estimates.

The following sales figures show the growth that is expected and are the basis for planning in the other corporate departments:

Jason Hall, assistant controller, is responsible for the cash flow projection, a critical element during a period of rapid expansion. She

will use the following information in preparing her cash analysis

Sweet Acacia has experienced an excellent record in accounts receivable collection and expects this trend to continue. The

company collects $50\%$ of billings in the month after the sale and $50\%$ in the second month after the sale. Uncollectible

accounts are nominal and can be ignored in the analysis.

The purchase of electronic parts is Sweet Acacia's largest expenditure; the cost of these items is equal to $60\%$ of sales. Sweet

Acacia receives $40\%$ of the parts one month before it sells them and $60\%$ during the month of sale.

Historically, Sweet Acacia has cleared $60\%$ of the accounts payable one month after it receives its purchases, and the

remaining $40\%$ two months after.

Hourly wages, including fringe benefits, depend on the sales volume; they are equal to $20\%$ of the current month's sales. The

company pays these wages in the month incurred.

General and administrative expenses are projected to be $$3,327,500$ for $2022.$ The composition of these expenses is given

below. The company incurs all of these expenses uniformly throughout the year, except for property taxes. It pays the

property taxes in four equal instalments in the last month of each quarter:

Sweet Acacia makes income tax payments in the first month of each quarter based on income for the prior quarter. The tax

rate is $30\%.$ The net income for the first quarter of $2022$ is projected to be $$907,500.$

Sweet Acacia has a corporate policy of maintaining an end$-$of$-$month cash balance of $$242,000.$ It imvests or borrows cash

monthly, as necessary, to maintain this balance

B$.$ Sweet Acacia uses a calendar$-$year reporting period.

Prepare a schedule of Cash Receipts and Disbursements for Sweet Acacia Instruments, by month, for the second quarter of $2022.$ Be

sure that all receipts, disbursements, borrowing, and imesting amounts are presented on a monthly basis. Ignore the interest expense

and income from borrowing and investing. $($Round answers to $0$ decimal ploces, eg$.125.)$

director of marketing, has completed his $2022$ forecast and is confident that the company will meet or exceed sales estimates. The

following sales figures show the growth that is expected and are the basis for planning in the other corporate departments:

Jason Hall, assistant controller, is responsible for the cash flow projection, a critical element during a period of rapid expansion. She

will use the following information in preparing her cash analysis:

Sweet Acacia has experienced an excellent record in accounts receivable collection and expects this trend to continue. The

company collects $50\%$ of billings in the month after the sale and $50\%$ in the second month after the sale. Uncollectible

accounts are nominal and can be ignored in the analysis.

The purchase of electronic parts is Sweet Acacia's largest expenditure; the cost of these items is equal to $60\%$ of sales. Sweet

Acacia receives $40\%$ of the parts one month before it sells them and $60\%$ during the month of sale.

Historically, Sweet Acacia has cleared $60\%$ of the accounts payable one month after it receives its purchases, and the

remaining $40\%$ two months after.

Hourly wages, including fringe benefits, depend on the sales volume; they are equal to $20\%$ of the current month's sales. The

company pays these wages in the month incurred.

General and administrative expenses are projected to be $$3,327,500$ for $2022.$ The composition of these expenses is given

below. The company incurs all of these expenses uniformly throughout the year, except for property taxes. It pays the

property taxes in four equal instalments in the last month of each quarter: