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Armidale Motor Company (AMC) 2021 books contain the following pieces of information: Armidale Motor Company (AMC) track record shows that 80% of its total sales revenue in a month is its 'cost of goods sold' (COGS). Furthermore, for any month, AMC management aims to keep a 'desired closing inventory' of 50% of the next month's 'cost of goods sold'. Required: Make a 'purchases budget' for AMC for February, March and April, with a column for 'Totals', using the format below: Cash sales are all paid in the month of sale. For all sales on credit, AMC has the following track record: 40% of any month's credit sales is collected in cash in the month of sale; 45% of any month's credit sales is collected in the month following the month of sale; and, 10% of any month's credit sales is collected in the second month following the month of sale; and, 5% of any month's credit sales are normally bad debts and cannot be collected due to a variety of reasons. Required: Prepare AMC's cash collection schedule for March, April and May, with a column for 'Totals', using the format below