Using the preceding data: Complete the following: Schedule of Expected Cash Collections April May June Quarter Cash sales $36,000 Credit sales*. ..20,000 Total collections... $56,000 *40% of prior month's sales Complete the following: Merchandise Purchases Budget April Budgeted cost of goods sold $45,000* May $54,000 June Quarter Add desired ending inventory Total needs Less beginning inventory Required purchases * For April sales: $60,000 sales x 75% cost ratio = $45,000. t $54,000 x 80% = $43,200 Schedule of Expected Cash disbursements Merchandise Purchases 43,200t 88,200 36,000 $52,200 March purchases April purchases May purchases June purchases April May $21,750 26,100 $26,100 Total disbursements $47,850 3. Complete the following: June Quarter $21,750 52,200 Schedule of Expected Cash Disbursements - Operating Expenses April Commissions $7,200 Rent 2,500 Other expenses 3,600 Total disbursements $13,300 May June Quarter