https//cambridgepub.com/ereader/4502 page/335 ife D Google BeautfulBeautfhul I se Dry BonesDry Bones Witing Tutoriaks| w a= Auto Zoom financing section of the cash budget. Complete the short-term Purchases and Cash Budgets LO3 E9-28. n hd ah bla of s17500 amd couns payshbe of $9,.0. Acua sales for May and June, and budgeted sales for July, August, September, and October are: Budgeted Actual Sales Month Month 150000 Augustet. 90,000 .80,000 May October 120,000 All sales are on credit with 75 percent collected during the month of sale, 20 percent collected during the next month, and 5 percent collected during the second month following the month of sale. Cost of goods sold averages 70 percent of sales revenue. Ending inventory is one-balf of the next months predicted cost of sales. The other half of the merchandise is acquired during the month of sale. All pur- chases are paid for in the month after parchase. Operating costs are estimated at $28,000 each month and are paid during the month incurred. Required Prepare purchases and cash budgets for July, August, and September LO3 E9.29. Cash Reccipts The sales budget for Andrew Inc. is forecasted as follows: Sales Rovenue $170,000 enters, 353, 372 May.. ^ . Chapter 9-review to ^ rview-alsx here to search