$\backslash$table$[[$Current assets as of March $31$:$,],[$Cash$,$$$9,000$

H$)$ Management would like to maintain a minimum cash balance of at least $$4000$ at the end of each month. The company has an agreement with the local bank, allowing it to borrow in increments of $$1000$ at the beginning of each month, up to a total loan balance of $$20,000.$ The interest rate on these loans is one percent per month and for simplicity, we will assume 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:

$1)$ complete the schedule of expected cash collections

$2)$complete the merchandise purchases budget and the schedule of expected cash disbursements for merchandise pirchases

$3)$ complete the cash budget

$4)$ prepare an absorption costinf incomes statement for the quarter ended June $30$

$5)$ prepare a balance sheet as of June $30$