Screenshot and do it in Excel please.

Problem D Galaxy Lighting Company manufactures and sells lighting fixtures. Estimated sales for the next three months are:

September

$350,000

October

500,000

November

400,000

Sales for August were $400,000 and December is estimated as $420,000. All sales are on account. Galaxy Lighting Company estimates that 80% of the accounts receivable are collected in the month of sale with the remaining 20% collected the following month. The units sell for $40 each.

Generally, 60% of purchases are due and payable in the month of purchase with the remainder due the following month. Purchase cost per unit for materials is $18. The company maintains an end-of-the-month inventory of 1,000 units plus 10% of next month's unit sales.August's ending inventory is estimated at 1,875 units and November's ending inventory is estimated as 2,500 units.The accounts payable balance on August 31 is expected to be $13,500 and should be paid in September.

1. Prepare sales budget in dollars and units for September, October, and November.
2. Prepare schedule of cash receipts from customers.
3. Prepare purchases budget for September, October and November.
4. Prepare schedule of cash payments for purchases.

Problem E Refer to the previous problem. In addition to the information given, selling and administrative expenses paid in cash are $220,000 per month.The cash balance for September 1 is $80,000.

Prepare monthly cash budget for September, October, and November for Galaxy Lighting Company.