Question

solve question 1&2&3 please.

as it is able, repay the loan plus accumulated interest at the end of the quarter. 1. Prepare a schedule of expected cash collections for July, August, and September and for the quarter in total. (Leave no cells blank-be certain to enter "0" wherever required. Do not round intermediate calculations. Omit the "S" sign in your response.) Schedule of Expected Cash Collections Cash sales Sales on account: May June July August Total cash collections 2. Prepare the following for merchandise inventory a. A merchandise purchases budget for July, August, and September. (Input all amounts as positive values. Do not round intermediate calculations. Omit the "$" sign in your responso.) Merchandise Purchases Budget August Budgeted cost of goods sold (Click to select(Click to select) Add (Click to select(ck to select) Required inventory purchases b. A schedule of expected cash disbursements for merchandise purchases for July, August, and September and for the quarter in total. (Leave no cells blank-be certain to enter "O" wherever required. Omit the "$" sign in your response.) Schedule of Expected Cash Disbursements Accounts payable, June 30

Answer 1

Required Budgets are as prepared below:

	July	August	September	Total
	34,000	64,000	54,000	152,000
Cash Sales	8,500	16,000	13,500
Credit sales	25,500	48,000	40,500
1
Jason products Inc
Schedule of expected Cash collections
For the quarter ended September 30
	Month
Particulars	July	August	September	Total
Cash Sales	8,500	16,000	13,500	38,000
Sales on account
May (27,000*.75*.2)	4,050			4,050
June (33,000*.75*.7) (33,000*.75*.2)	17,325	4,950		22,275
July	2,550	17,850	5,100	25,500
August		4,800	33,600	38,400
September			4050	4,050
Total cash collections	32,425	43,600	56,250	132,275
2a.
Jason products Inc
Merchandise Purchase Budget
For the quarter ended September 30
	Month
Particulars	July	August	September	Total
Budgeted Cost of goods sold	22,000	40,000	24,000	22,800
Add: Desired Ending merchandise inventory (70% of next month COGS)	28,000	16,800	18,200	18,200
Total needs	50,000	56,800	42,200	41,000
Less: Beginning merchandise inventory	15,400	28,000	16,800	15,400
Required inventory purchase	34,600	28,800	25,400	25,600
2b.
Jason products Inc
Schedule of expected Cash payments
For the quarter ended September 30
	Month
Particulars	July	August	September	Total
Account Payable, June 30	$10,700			$10,700
July Purchases	$17,300	$17,300		$34,600
August Purchases		$14,400	$14,400	$28,800
September Purchases			$12,700	$12,700
Total cash disbursements	$28,000	$31,700	$27,100	$86,800
3
Jason products Inc
Cash Budget
For the quarter ended September 30
	Month
Particulars	July	August	September	Total
Cash balance, beginning	5,000	5,525	5,225	5,000
Add: collections from sales	$32,425	$43,600	$56,250	132,275
Total Cash available	$37,425	$49,125	$61,475	$137,275
Less: cash Disbursements
For inventory purchase	$28,000	$31,700	$27,100	86,800
For selling expenses	5,200	10,200	7,200	22,600
For administrative expenses	3,000	5,000	4,100	12,100
For Land	3,700			3,700
For dividends			1,300
Total disbursement	39,900	46,900	38,400	125,200
Cash surplus/Deficit	-2,475	2,225	23,075	12,075
Financing
Borrowing	8,000	3,000		11,000
Repayment			-11,000	-11,000
Interest			-300	-300
Net cash from Financing	8,000	3,000	-11,300	-300
Budgeted ending cash balance	5,525	5,225	11,775	11,775