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Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections for April, May, and June, and for the quarter in total. Complete this question by entering your answers in the tabs below. Prepare the following for merchandis inventory, a schedule of expected cash disbursements for merchandise purchases for April, May, and June, and for the quarter in total. Complete this question by entering your answers in the tabs below. Prepare a cash budget for April, May, and June as well as in total for the quarter. (Cash deficiency, repayments and interest shoul Complete this questian by entering your answers in the tabs below. Prepare the following for merchandise inventory, a merchandise purchases budget for April, May, and June. Garden Sales, Incorporated, sells garden supplles, Management is planning its cash needs for the second quarter. The company information has been assembied to assist in preparing a casin budget for the quarter a. Budgeted monthly absorption costung income statements for Aprit-July are b. Sales are 20% for cash and 8o\% on account c. Sales on account are collected over a three-month penod with 10% collected in the month of saic, 80% collected in the first month totaled $150,000, and March's sales totaled $300000 d. Inventory purchases are paid for within 15 days. Therefore, 50% of a month's irventory purchases are paid for in the month of purchase. The remaining 50% is paid in the following month Accounts payable at March 31 for inventory purchases during March total $120,400 e. Each month's ending inventory must equal 20% of the cost of the merchandise to be sold in the following month The metchandise inventory at March 31 is $72,800 f. Dividends of $22,000 will be deciared and paid in April. 9 Land costing $30,000 will be purchased for cash in May 7. The cash balance at March 31 is $44,000, the company must maintain a cash balance of at least $40,000 at the end of each month 1. The company has an agreement with a local bank that allows the company to Dorrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $200,000. The interest rate on these loans is 1% per month and for simplicity we wili assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter Required: 1 Prepare a schedule of expected cash collections for April, May, and June, and for the quarter in total. 2 Prepare the following for merchandise inventory: a A merchandise purchases budget for April, May, and June. b. A schedule of expected cash disbursements for merchandise purchases for Apri, May, and June, and for the quarter in total. 3. Prepare a cash budget for April, May, and June as well as in total for the quarter