Headin A Aa 6 : -- :- - - - A-DAE - 1 Normal 1 No Spac... Heading 1 Paragraph Styles 107, 120,000 +23,484,000 :23,484,000 : 412,000,000 = 3.17 Chapter 4: Managing Working Capital and Controlling Cash May June July August September Credit Sales $65,500 $58,950 $53,055 $47,750 $52,524 70% collected in next month 45,850 41,265 37,139 33,425 36,767 30% collected in two months 19,650 17,685 15,917 14,325 15,757 Cash Sales 18,500 16,650 14,985 13,487 14,835 Credit Purchases due in 30 days 24,500 24,990 25,490 26,000 26,520 Cash Purchases 4,100 4,141 4,182 4,224 4,266 Payroll -34% of total sales 28,560 25,704 23,134 20,820 22,902 Service on mortgage-Quarterly payments 15,450 15,450 Quarterly Insurance Payment 5,400 Partner distribution due quarterly 10,000 10,000 5,400 1. From the information provided in the chart, determine available cash for the months of July, August, and September. Assume a beginning cash balance of $(10,000) in July. 2. How can this property better manage its working capital? Provide specific suggestions for Watree Lodge management