janus product inc this mercdishsing company sell paper and other school supplier thi 502944 | Homework Solutions

janus product inc/ this mercdishsing company sell paper and other school supplier.this company is planning its cash need 4 the 3rd quarter. in the past this company has had to borrow money during the 3rd quarter to support its peak sale sale of back to school material which occur during august.the following data has been assemble to assit in preparing a cash budget for the quarter/Sale- july=40k august=70k sept=50k oct=40k cost of good sold july=24k aug=42k sept=30k oct=27k gross margin- july=16k august=28k sept=20k oct=18k selling exp-july=7200 august=11.700 sept=8500 oct=7300 adm exp-july=5600 august=7200 sept=6100 oct=5900 total selling and adm exp-july=12800 august=18900 sept= 14600 oct=13200 net operating exp-july=3200 august=9100 sept=5400 oct=4800 sales are 20 percent for cash and 80 percent credit credit sale are collect over 3 months period with 10 percent collected in the month of sale 70 percent in the month following sale and 20 percent in the second month following sale in may sale total=30k in june sale was 36k inventory purchase are paid within 15 days 50 percent of a month inventory purchase are paid for in the month of purchase the remain 50 percent is paid the next month account payable 4 inventory purchase in june 30 is 11,700 this company maintain its ending inventory level at 75 percent of cost of the merchandisr to be sold the following month the merchansise inventory in june 30 was 18k land costing of 4500 will be purchase in july divided of 1000 will be declare and paid in sept the cash balance in june is 8k the company must maintain a cash balance of this amount at the end of each month this company has agree to borrow from a local bank 1000 at the beginning of each month total 40k. the intreste rate on this loan is 1 precent each month. the company must paty the loan plus intrest at the end of the quarter/ I need to prepare a schedule of expected cash collection for july; august; sept and 4 the quarter totali need to prepare the following for merchansise inventory a merchandise purchasebudget for july; august; and sept also I need to prepare a schedule of expected cash disdisburement for merchandise purchas for july ; august and sept and 4 the quarter total I need to prepae a cash budget for july august sept and 4 the quarter total can u assit me jacdumb

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