Need help ASAP, need to know if some numbers are right. 30 1 DC Products is a

Need help ASAP, need to know if some numbers are right.

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30 1 DC Products is a wholesale distributor of industrial cleaning products. The company treasurer has assembled the following information to assist in preparing a detailed cash budget to support the company's loan application for short-term financing with a local bank a. Budgeted sales and merchandise purchases for the year 2024, as well as actual sales and purchases for the last quarter of 2023, are as follows: points Sales Merchandise Purchases 2023: Fourth-quarter actual $540,000 $340,200 2024: First-quarter estimated Second-quarter estimated Third-quarter estimated Fourth-quarter estimated 810,000 502,200 1,080,000 669,600 1,350,000 823,500 540,000 340,200 b. The company normally collects 65% of a quarter's sales before the quarter erips and another 33% in the following quarter. The remainder are uncollectible. This pattern of collections is now being experienced in the 2023 fourth-quarter actual data. c. 80% of a quarter's merchandise purchases are paid for within the quarter. The remainder are paid in the following quarter) d. Operating expenses for the year 2024 are budgeted quarterly at $135,000 plus 15% of sales. Of the fixed amount, $54,000 each quarter is depreciation. e. The company will pay $27,000 in dividends each quarter. f. Equipment purchases of $202,580 will be made in the second quarter, and purchases of $129,600 will be made in the third quarter. These purchases will be for cash. g. The cash account contained $27,000 at the end of 2023. The treasurer feels that this represents a minimum balance that must be maintained. h. Any borrowing will take place at the beginning of a quarter, and any repayments will be made at the end of a quarter at an annual interest rate of 10%. Interest is paid only when the principal is repaid. All borrowings and all repayments of the principal must be int round $1,000 amounts. Interest payments can be in any amount. (Compute interest on whole months, e.g.. 1/12, 2/12) 1. At present, the company has no loans outstanding Required: 1. Prepare the following by quarter and in total for the year a. A schedule of expected cash collections. 2024: 30 1 DC Products is a wholesale distributor of industrial cleaning products. The company treasurer has assembled the following information to assist in preparing a detailed cash budget to support the company's loan application for short-term financing with a local bank a. Budgeted sales and merchandise purchases for the year 2024, as well as actual sales and purchases for the last quarter of 2023, are as follows: points Sales Merchandise Purchases 2023: Fourth-quarter actual $540,000 $340,200 2024: First-quarter estimated Second-quarter estimated Third-quarter estimated Fourth-quarter estimated 810,000 502,200 1,080,000 669,600 1,350,000 823,500 540,000 340,200 b. The company normally collects 65% of a quarter's sales before the quarter erips and another 33% in the following quarter. The remainder are uncollectible. This pattern of collections is now being experienced in the 2023 fourth-quarter actual data. c. 80% of a quarter's merchandise purchases are paid for within the quarter. The remainder are paid in the following quarter) d. Operating expenses for the year 2024 are budgeted quarterly at $135,000 plus 15% of sales. Of the fixed amount, $54,000 each quarter is depreciation. e. The company will pay $27,000 in dividends each quarter. f. Equipment purchases of $202,580 will be made in the second quarter, and purchases of $129,600 will be made in the third quarter. These purchases will be for cash. g. The cash account contained $27,000 at the end of 2023. The treasurer feels that this represents a minimum balance that must be maintained. h. Any borrowing will take place at the beginning of a quarter, and any repayments will be made at the end of a quarter at an annual interest rate of 10%. Interest is paid only when the principal is repaid. All borrowings and all repayments of the principal must be int round $1,000 amounts. Interest payments can be in any amount. (Compute interest on whole months, e.g.. 1/12, 2/12) 1. At present, the company has no loans outstanding Required: 1. Prepare the following by quarter and in total for the year a. A schedule of expected cash collections. 2024: