uBle 13-54 Budgeted Purchases and Cash Flows (LO 13-4, 5,6) Mast Corporation seeks your assistance in developing cash and other budget information for May, June, and July At Aprl 30, the of $129,000, and accounts payable of $34,891. The budget is to be based on the following assumptions. company had cash of $11,000, accounts ecsivable of $886,000, Each month's sales are billed on the last day of the month Customers are allowed a 2 percent discount if payment is made within 10 days afher the billing date. Receivables are recorded in the accounts at their gross amounts (not net of discounts) The billings are collected as follows: 70 percent within the discount period, 15 percent by the end of the month, and 12 percent by the end of the following month. Three percent is uncolecible Purchase data are as follows. Of all purchases of merchandise and selling, goneral, and . The number of units in each month's ending inventory equals 125 percent of the next monthi's units of sales . The cost of each unit of in s $8. Selling, general, and administrative expenses, of which $3,000 isdepreiation, equal 15 percent of the ouro Actuail and projected sales follow $166,40012,800 170,300 13,100 167,700 12. 35.200 10,400 169,000 13,000 15,800 13200 O Type here to search 7 1