u/0/c/NDg3MDM2MZOZNTNa/a/NTCWOTQ3NDg1MDda/details The naceret M 311 given below elle Inc. a photographic mappila distributor PIXELIZE INC. Balance Sheet May 31 Assets $ 8.000 pom ST Lacourts hvertory... Buildings and equipment, not deprecio Istalsts Liabilities and Shareholders' Equity Amunts payable.. Note payable.... Common shares....... Retained camnings.... Total abilities and shareholders egy $90.000 mm 85.000 560.000 Pixelize Inc. has not budgeted previously, so it is limiting its master budget planning horison to just one month ahead-namely, June. The company has assembled the following budget data relating to June a Sales are forecast to be $250,000 $60,000 will be received in cash: the balance will be credit sales. One-half of the credit sales for a month are collected in the month of sale, and the balance is collected the next month. The entire May 31 accounts receivable bal- ance will be collected in June Inventory purchases are expected to total $200.000 during the month of June. All of these purchases will be on account. Forty percent of all inventory purchases is paid for in the month of purchase with the other 60% paid the next month. The entire balance of the May 31 accounts payable to suppliers will be paid during June The inventory balance for June 30 is budgeted at 10000 d. The selling and administrative expenses budget for June is SS1000 excluding depreciation All of these expenses will be paid in cash The depreciation but is $2.000 for the month The May 31 note payable that appears on the balance sheet will be paid in June Interest expense for the month of June all borrowings will be 5160 to be paid in cash. Warehouse equipment totalling 59000 will be acquired for cash in June In June the company will borrow 518000 from the bank by Issuing a new note pavable to the bank for that the amount. The new note will be dus in one year Rere para cash butt for lune Support your budet with a schedule of expected cash colle Miles and schedule expected cash disbursements for inventary purchase istement for the absorption costing income tale hwn in W hen 10 nce