The Bridge ford Co., a wholesaler of auto parts, budgeted in 20x2 in the following sales tor lire indicated months: All merchandise is marked up to sell at its invoice cost plus 25%. Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold. Compute the budgeted cost of goods sold for the month for each of three month until August Compute the budgeted merchandise purchases for July 20x2 A Japanese clothing wholesaler was preparing budget for the first quarter of 20x2. Forecast sales are in thousands of dollar: Sales are 20% cash and 80% on credit. Fifty percent of the credit account are collected in month of sales, 40% in the month following of sales, and 10% in the following month. No uncollectible account are anticipated. Accounts receivable at the beginning of 20x2 are $94 million (10% of November credit sales of $160,000 and 50% of December credit sales of $156 million.) Prepare a schedule showing sales and cash collection for January, February, and March, 20x2