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those total 1 quesiton, i need solution. thank you The company's selling price is $10 per unit. 50% of a month's sales are collected in

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The company's selling price is $10 per unit. 50% of a month's sales are collected in the same nonth 40% in the following month and the remaining in the second month following the sales. 2. The company purchases its merchandise inventory monthly. Monthly purchases in units are equal to the applicable month's sales in units. Therefore, the company carries zero inventory. Purchase price per unit (also cost of goods sold per unit) is 50% of sales price per unit. 80% of the purchases are paid in the same month and remaining balance is paid in the month following the month of the purchase. 3. The company has an investment in Treasury bonds of $50,000 from which it earns monthly interest of $2,000. The T-bills will mature on May 31 and at this date, principal amount plus accrued interest for 5 months will be received in full. 4. Beginning cash is expected to be $10,000 on May 1 . 5. Dividends of $12,000 will be declared and paid in May. 6. The company has a monthly salaries expense of $30,000. The salaries of each month are paid to the employees in the same month as incurred. 7. The company will move to a new office on April 1. A rent security deposit of $10,000, and firstmonth's rent of $2,000 will be paid in April. In addition, on May 1,$6,000 will be paid as for the months of May, June, and July. 8. On May 1 , the company will pay $18,000 cash in advance for a 12 -month insurance policy covering the fixed assets of the company. 9. All other cash operating expenses are estimated as $16,000 per month to be paid in the same month as incurred. 10. On May 1, the company will sell its old equipment for $30,000 cash (old equipment will have a net book value of $40,000 at that date). The company will buy a new equipment for $24,000 cash on May 1. The company uses the straight-line method of depreciation with a useful life of 10 years. 11. The company has a bank loan outstanding which was taken in 2020 , in order to start the business. Principal payments of $10,000 and interest payments of $600 are paid every month. Required: Prepare the following budgets for MAY: a) Sales budget b) Schedule of expected cash collections from sales c) Inventory purchases budget d) Schedule of expected cash payments for inventory purchases e) Cash budget f) Budgeted income statement

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