please correct what I have wrong and complete the following tables! thank you!

Aztec Company sells its product for $150 per unit. Its actual and budgeted sales follow. May (Actual) June (Budget) July (Budget) August (Budget) Sales units 2,000 5, 506 4, 506 4, 260 Sales dollars $ 300, 006 $ 825, 000 $ 675, 000 $ 630,090 All sales are on credit. Collections are as follows. 24% is collected in the month of the sale, and the remaining 76% is collected in the month following the sale. Merchandise purchases cost $110 per unit. For those purchases, 60% is paid in the month of purchase and the other 40% is paid in the month following purchase. The company has a policy to maintain an ending monthly inventory of 20% of the next month's unit sales. The May 31 actual inventory level of 1,100 units is consistent with this policy. Selling and administrative expenses of $164,000 per month are paid in cash. The company's minimum cash balance at month-end is $130,000. Loans are obtained at the end of any month when the preliminary cash balance is below $130,000. Any preliminary cash balance above $130,000 is used to repay loans at month-end. This loan has a 1.5% monthly interest rate. On May 31, the loan balance is $44,000, and the company's cash balance is $130,000. Required: 1. Prepare a schedule of cash receipts from sales for each of the months of June and July 2. Prepare the merchandise purchases budget for June and July. 3. Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's budgeted merchandise purchases is $297,000. 4. Prepare a cash budget for June and July, including any loan activity and interest expense. Compute the loan balance at the end of each month. Complete this question by entering your answers in the tabs below. Prey 1 of 2 Next > 9 Search hp 19 14 112 insert b O O E R T V U O P D G H K X pause C V B N Mpurchases Is 129/000. 4. Prepare a cash budget for June and July, including any loan activity and interest expense. Co each month. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a schedule of cash receipts from sales for each of the months of June and July. AZTEC COMPANY Schedule of Cash Receipts from Sales May June July Sales $ 300,000 $ 825,000 $ 675,000 Cash receipts from: Collections of current period sales $ 198,000 $ 162,000 Collections of prior period sales 228,000 627,000 Total cash receipts $ 426,000 $ 789,000 Required 2 > Prey 1 of 2 Next > O Search a hp 19 14Prepare the merchandise purchases budget for June and July. Merchandise Purchases Budgets June July Budgeted sales units 5.500 4.500 Calculation of desired ending inventory Next period budgeted sales units 4,500 4.200 Ratio of inventory to future sale Less: Beginning inventory units (1, 100) 900) Total required units 4,400 3,600 Add: Beginning inventory units Units to purchase 4,400 3.600 Cost per unit $ 110 $ 110 Cost of merchandise purchases $ 484,000 $ 396,000 Required 1 Required 3 > of 2 Next O Search a hpComplete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a schedule of cash payments for merchandise purchases for June and July. Assume May's bud purchases is $297,000. AZTEC COMPANY Schedule of Cash Payments for Merchandise Purchases May June July Merchandise purchases $ 300,000 $ 825,000 $ 675,000 Cash payments for Current period purchases Prior period purchases Total cash payments for merch. purchases $ 0 $ 10 Required 2 Required 4 > 1 of 2 Next > O Search a hpBeginning cash balance Total cash available Less: Cash payments for: Total cash payments Preliminary cash balance Ending cash balance $ 0 $ oan balance June July Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month of 2 Next > O Search IN a hp