O mylearn.hct.ac.a P08-24 Given P08-24 C08-29 Given C08-29 Given Data PO8-24 UNIVAX, INC. Budgeted Sales and Merchandise Purchases: Merchandise Purchases Sales Fourth quarter actual 300,000 180,000 Year 2 First quarter estimated Second quarter estimated Third quarter estimated Fourth quarter estimated 400,000 500,000 600,000 480,000 260,000 310,000 370,000 240,000 Additional information: Percentage of sales collected in same quarter Percentage of sales collected in quarter following sales Percentage of sales deemed uncollectible Percentage of merchandise purchases paid in same quarter Percentage of merchandise purchases pain in following quarter Budgeted quarterly operating expenses for Year 2 65 20% 90,000 plus percentage of sales of depreciation budgeted each quarter 20,000 10,000 Dividends to be paid each quarter Cash purchase of land in second quarter Cash purchase of land in third quarter Cash account balance at end of Year 1 Minimum cash balance required Bank loan borrowing increments Maximum loan balance allowed Interest rate per quarter on bank loans 8,500 20,000 18,000 10,000 100,000 Student Name Class Problem 08-24 Schedule of expected cash collections Year 2 Quarter Second ear 1-Fourth quarter sales Year 2-First quarter sales Year 2-Second quater sales Year 2-Third quarer sales Year 2-Fourth quaner sales Total cash collections Schedule of expected cash disbursements for merchandise purchases for Year 2 Year 2 Quarter Third Fourth Fourth quater purchases: Year 2-Frst quarter purchases Year 2 Second quarter purchases Year 2- Third quarter purchases Year 2-Fourth quarter purchases expenses for Year 2 2 Quarter First SecondThird Fourth Fixed expenses Cash Year 2 Quarter First balance, beginning Add collections trom sales Total cash available Merchandise purchases Operating expenses Dividends Excess (deficiency) of receipts over disbursements Interest