G Google Yahoo Imported From Sa... B 10 Link to Watch Loc... Remaining Time: 46 minutes, 25 seconds. Question Completion Status: Q Sales The following information for the second quarter of 2011 pertains to Khalid Company: Month Purchases April $90,000 $48,000 May $120,000 $60,000 June $150,000 $84,000 Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 20% of sales. Other operating costs are $45,000 per month (including $12,000 of depreciation). Both of these are paid in the month incurred. The cash balance on June 1 is $6,000. A minimum cash balance of $4,500 is required at the end of the month. Money can be borrowed in multiples of $3,000 G Google Yahoo Imported From Sa... B 10 Link to Watch Loc... Remaining Time: 46 minutes, 25 seconds. Question Completion Status: Q Sales The following information for the second quarter of 2011 pertains to Khalid Company: Month Purchases April $90,000 $48,000 May $120,000 $60,000 June $150,000 $84,000 Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 20% of sales. Other operating costs are $45,000 per month (including $12,000 of depreciation). Both of these are paid in the month incurred. The cash balance on June 1 is $6,000. A minimum cash balance of $4,500 is required at the end of the month. Money can be borrowed in multiples of $3,000