ts eBook eferences Aztec Company sells its product for $170 per unit. Its actual and budgeted sales follow. May (Actual) June (Budget) July (Budget) August (Budget) 2,000 5,500 4,500 4,000 $ 340,000 $765,000 $ 935,000 $ 680,000 Sales units Sales dollars All sales are on credit. Collections are as follows: 30% is collected in the month of the sale, and the remaining 70% is collected in the month following the sale. Merchandise purchases cost $110 per unit. For those purchases, 60% is paid in the month of purchase and the other 40% is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of 23% of the next month's unit sales. The May 31 actual inventory level of 1,265 units is consistent with this policy. Selling and administrative expenses of $102,000 per month are paid in cash. The company's minimum cash balance at month-end is $140,000. Loans are obtained at the end of any month when the preliminary cash balance is below $140,000. Any preliminary cash balance above $140,000 is used to repay loans at month-end. This loan has a 0.0% monthly interest rate. On May 31, the loan balance is $44,000, and the company's cash balance is $140,000. Required: 1. Prepare a schedule of cash receipts from sales for each of the months of June and July. 2. Prepare the merchandise purchases budget for June and July. 3. Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise purchases is $308,550. 4. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a schedule of cash receipts from sales for each of the months of June and July. AZTEC COMPANY Schedule of Cash Receipts from Sales

Aztec Company sells its product for $170 per unit. Its actual and budgeted sales follow. All sales are on credit. Collections are as follows: 30% is collected in the month of the sale, and the remaining 70% is collected in the month following the sale. Merchandise purchases cost $110 per unit. For those purchases, 60% is paid in the month of purchase and the other 40% is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of 23% of the next month's unit sales. The May 31 actual inventory level of 1,265 units is consistent with this policy. Selling and administrative expenses of $102,000 per month are psid in cash. The company's minimum cash balance at month-end is $140,000. Loans are obtained at the end of any month when the preliminary cash balance is below $140,000. Any preliminary cash bolance above $140,000 is used to repay loans at month-end. This loan has a 0.0% monthly interest rate. On May 31 , the loan balance is $44,000, and the company's cash balance is $140,000 Required: 1. Prepare a schedule of cash receipts from soles for each of the months of June and July. 2. Prepare the merchandise purchases budget for June and July. 3. Prepare a schedule of cash poyments for merchandise purchases for June and July. Assume May's budgeted merchandise purchases is $308,550 4. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. Complete this question by entering your answers in the tabs below. Prepare a schedule of cash receipts from sales for each of the months of June and July. 1. Prepare a schedule of cash receipts from sales for each of the months of June and July. 2. Prepare the merchandise purchases budget for June and July. 3. Prepure a schedule of cash payments for merchandise purchases for June and July. Assume Moy's budgeted merchandise purchases is $308,550. 4. Prepare a cash budget for June and July, including ary loan activity and interest expense. Compute the loan balance at the end of each month. Complete this question by entering your answers in the tabs below. Frepere a wheoule of chish receipts from saies for each of the months of June and July. 1. Prepare a schedule of cash receipts from sales for each of the months of June and July. 2. Prepare the merchandise purchases budget for June and July. 3. Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise purchases is $308,550. 4. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. Complete this question by entering your answers in the tabs below. Prepore the merchandise purchases budget for June and July. 1. Prepare a schedule of cash receipts from sales for esch of the months of June and July. 2. Prepare the merchandise purchases budget for June and July. 3. Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise purcheses is $308.550 4. Prepare a cash budget for June and July, Including any loan activity and interest expense. Compute the loan balance at the end of each morth. Complete this question by entering your answers in the tabs below. Arepere a shedule of cheh peyments for menhendie purcheses for June and July. Assume May's budgeted merchandise puroheses ie sobe.pho. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your answers to the nearest whole dollars