This is section A to a three part question. I need clarification on each part. Please include calculations and if possible explainations

0 Required information The following information applies to the questions displayed below) The following trial balance was drawn from the records of Finch Company as of October 1 year 2. 5 19,800 66,000 43,000 260,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 78,000 75,000 160,000 56,000 19,000 $388,000 $388,000 Required 0-1. Based on the following information, prepare a soles budget and a schedule of cash receipts for October November, and December Sales for October are expected to be $210,000, consisting of $46,000 in cash and $164,000 on credit. The company expects soles to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the a-2. Based on the following information, prepare a purchases budget and a schedule of cash payments for inventory purchases for October November, and December. The inventory balance as of October 1 was $43,000 Cost of goods sold for October is expected to be $75,000. Cost of goods sold is expected to increase by 10 percent per month. The company expects to maintain a minimum ending inventory equal to 20 percent of the current month cost of goods sold, Seventy-five percent of accounts payable is paid in the month that the purchase occurs, the remaining 25 percent is paid in the following month a-3. Based on the following selling and administrative expenses budgeted for October prepare a selling and administrative expenses budget for October November and December $ 7,500 2.000 2.800 Sales comissions (10% increase per month Supplies expense (10% increase per month) Utilities (fixed) Depreciation on store equipment (fixed) Salary expense (fixed) Rent (fixed) Miscellaneous (Fixed) 2,200 37,003 6.600 1,600 Cash payments for sales commissions and utilities are made in the month following the one in which the expense is incurred Supplies and other operating expenses are paid in cash in the month in which they are incurred. Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg A3 Based on the following information, prepare a sales budget and a schedule of cash receipts for October November and December Sales for October are expected to be $210,000, consisting of $46,000 in cash and $164,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale Show less October November December $ 4600D 164,000 210,000 5 Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Cash sales Collections from accounts receivable Total cash collections Reg A2 > Complete this question by entering your answers in the tabs below. Reg 1 Reg A2 Req AJ Based on the following information, prepare a purchases budget and a schedule of cash payments for inventory purchases for October, November, and December. The inventory balance as of October 1 was $43,000. Cost of goods sold for October is expected to be $75,000. Cost of goods sold is expected to increase by 10 percent per month. The company expects to maintain a minimum ending inventory equal to 20 percent of the current month cost of goods sold. Seventy-five percent of accounts payable is paid in the month that the purchase occurs, the remaining 25 percent is paid in the following month. (Round your answers to the nearest whole dollar) Show less Inventory Purchases Budget October November December 0 0 0 5 Os 0 $ O Inventory needed Less Beginning inventory Required purchases (on account) Schedule of Cash Payments Payment of current months accounts payable Payment for prior month's accounts payable Total budgeted payments for inventory 5 os os Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg A3 Based on the following selling and administrative expenses budgeted for October, prepare a selling and administrative expenses budget for October, November, and December November December Sales commissions Supplies expense Utilities Depreciation on store equipment Salary expense Rent Miscellaneous Total S&A expenses October $ 7,500 2,000 2,800 2.200 37.000 6,600 1.600 $ 59.700