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- ONLY ANSWER QUESTION (B) AS I HAVE ANSWER FOR (A) ALREADY SALLAT Household Furnishings & Appliances is a family-owned business. You are themanagement accountant of the entity and have been given the task of preparing the cash budgetfor the business for the quarter ending September 30, 2022. Your data collection has yielded thefollowing:i) Extracts from the sales and purchases budgets are as follows:Month CashSales SalesOn Account CashPurchases PurchasesOn AccountMay $75,000 $480,000 $390,000June $135,000 $600,000 $36,000 $360,000July $86,800 $720,000 $61,700 $450,000August $105,600 $640,000 $68,800…Varsity Supplies & Things is a family-owned store. The business is now approaching the end of the year and is desirous of identifying its expected cash inflows and outflows for the first quarter of the new year. You are the management accountant of the entity and have been tasked to prepare the cash budget for the business for the quarter ending March 31, 2023. The following data is available: (1) (ii) Extracts from the sales and purchases budgets are as follows: Month Sales 2022- 2023 On Account November 2022 December 2022 January 2023 February 2023 March 2023 Cash Sales $142,100 $165,500 $171,475 $144,940 $236,720 $480,000 $600,000 $650,000 $700,000 $800,000 Cash Purchases $25,800 $44,625 $30,400 $55,100 55% in the month of sale 35% in the first month following the sale 8% in the second month following the sale The remaining 2% is expected to be uncollectible Purchases On Account $345,000 $380,000 $400,000 $480,000 $540,000 An analysis of the records shows that trade receivables…Pelican Merchandising & More is a family-owned store. The business is now approaching the end of the year and is in the process of identifying its cash needs for the first quarter of the new year. You are the management accountant of the entity and have been tasked to prepare the cash budget for the business for the quarter ending Mar 31, 2022 Month 2021 - 2022 Cash Sales $ Sales on A/C $ Cash Purchases $ Purchases on A/C $ Nov 2021 138,100 480,000 345,000 Dec 2021 156,500 600,000 25,800 380,000 Jan 2022 170,975 650,000 44,625 400,000 Feb 2022 135,740 700,000 30,400 480,000 Mar 2022 226,420 800,000 55,100 540,000 1 Extracts from the sales and purchases budgets are as follows 2 An analysis of the records shows that trade receivables (accounts receivable) are settled according to the following credit pattern in accordance with the credit terms 4/30, n90 55% in the month of sale 35% in the first month…
- SALLAT Household Furnishings & Appliances is a family-owned business. You are themanagement accountant of the entity and have been given the task of preparing the cash budgetfor the business for the quarter ending September 30, 2022. Your data collection has yielded thefollowing: i) Extracts from the sales and purchases budgets are as follows: Month Cash Sales Sales On Account Cash Purchases Purchases On AccountMay $75,000 $480,000 $390,000June $135,000 $600,000 $36,000 $360,000July $86,800 $720,000 $61,700 $450,000August $105,600 $640,000 $68,800 $400,000September $112,500 $800,000 $77,250 $500,000 ii) An analysis of the records shows that trade receivables (accounts receivable) for sales…Answer Needed for Part B onlySALLAT Household Furnishings & Appliances is a family-owned business. You are themanagement accountant of the entity and have been given the task of preparing the cash budgetfor the business for the quarter ending September 30, 2022. Your data collection has yielded thefollowing:i) Extracts from the sales and purchases budgets are as follows:****Table attachedii) An analysis of the records shows that trade receivables (accounts receivable) for sales onaccount are settled according to the following credit pattern, in accordance with the creditterms 5/30, n90:50% in the month of sale35% in the first month following the sale15% in the second month following the saleiii) Accounts Payable are settled as follows, in accordance with the credit terms – 4/30, n60:70% in the month in which the inventory is purchased30% in the following monthiv) Computer equipment, which is estimated to cost $350,000, will be acquired in August. Themanager has planned with the…SALLAT Household Furnishings & Appliances is a family-owned business. You are themanagement accountant of the entity and have been given the task of preparing the cash budgetfor the business for the quarter ending September 30, 2022. Your data collection has yielded thefollowing: i) Extracts from the sales and purchases budgets are as follows: Month Cash Sales Sales On Account Cash Purchases Purchases On AccountMay $75,000 $480,000 $390,000June $135,000 $600,000 $36,000 $360,000July $86,800 $720,000 $61,700 $450,000August $105,600 $640,000 $68,800 $400,000September $112,500 $800,000 $77,250 $500,000 ii) An analysis of the records shows that trade receivables (accounts receivable) for sales…
- Help please Pelican Merchandising & More is a family-owned store. The business is now approaching theend of the year and is in the process of identifying its cash needs for the first quarter of the newyear. You are the management accountant of the entity and have been tasked to prepare the cashbudget for the business for the quarter ending March 31, 2022.(i) Extracts from the sales and purchases budgets are as follows Month 2021-2022 Cash sales Sales on account Cash purchases Purchases on account November 2021 138,100 480,000 345,000 December 2021 156,500 600,000 25,800 380,000 January 2022 170,975 650,000 44,625 400,000 February 2022 135,740 700,000 30,400 480,000 March 2022 226,420 800,000 55,100 540,000 (ii) An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 4/30, n90:55% in the month of sale35% in the first month following the sale8% in the…Answer needed for Part C only SALLAT Household Furnishings & Appliances is a family-owned business. You are themanagement accountant of the entity and have been given the task of preparing the cash budgetfor the business for the quarter ending September 30, 2022. Your data collection has yielded thefollowing:i) Extracts from the sales and purchases budgets are as follows:****Table attachedii) An analysis of the records shows that trade receivables (accounts receivable) for sales onaccount are settled according to the following credit pattern, in accordance with the creditterms 5/30, n90:50% in the month of sale35% in the first month following the sale15% in the second month following the saleiii) Accounts Payable are settled as follows, in accordance with the credit terms – 4/30, n60:70% in the month in which the inventory is purchased30% in the following monthiv) Computer equipment, which is estimated to cost $350,000, will be acquired in August. Themanager has planned with the…Pelican Merchandising & More is a family-owned store. The business is now approaching the end of the year and is in the process of identifying its cash needs for the first quarter of the new year. You are the management accountant of the entity and have been tasked to prepare the cash budget for the business for the quarter ending Mar 31, 2022 1 Extracts from the sales and purchases budgets are as follows Month 2021 - 2022 Cash Sales $ Sales on A/C $ Cash Purchases $ Purchases on A/C $ Nov 2021 138,100 480,000 345,000 Dec 2021 156,500 600,000 25,800 380,000 Jan 2022 170,975 650,000 44,625 400,000 Feb 2022 135,740 700,000 30,400 480,000 Mar 2022 226,420 800,000 55,100 540,000 2 An analysis of the records shows that trade receivables (accounts receivable) are settled according to the following credit pattern in accordance with the credit terms 4/30, n90 55% in the month of sale 35% in the first month…
- Pelican Merchandising & More is a family-owned store. The business is now approaching the end of the year and is in the process of identifying its cash needs for the first quarter of the new year. You are the management accountant of the entity and have been tasked to prepare the cash budget for the business for the quarter ending Mar 31, 2022 1 Extracts from the sales and purchases budgets are as follows Month 2021 - 2022 Cash Sales $ Sales on A/C $ Cash Purchases $ Purchases on A/C $ Nov 2021 138,100 480,000 345,000 Dec 2021 156,500 600,000 25,800 380,000 Jan 2022 170,975 650,000 44,625 400,000 Feb 2022 135,740 700,000 30,400 480,000 Mar 2022 226,420 800,000 55,100 540,000 2 An analysis of the records shows that trade receivables (accounts receivable) are settled according to the following credit pattern in accordance with the credit terms 4/30, n90 55% in the month of sale 35% in the first month following the sale 8% in the second month following the sale The…Pelican Merchandising & More is a family-owned store. The business is now approaching theend of the year and is in the process of identifying its cash needs for the first quarter of the newyear. You are the management accountant of the entity and have been tasked to prepare the cashbudget for the business for the quarter ending March 31, 2022. Extracts from the sales and purchases budgets are as follows: An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 4/30, n90:55% in the month of sale35% in the first month following the sale8% in the second month following the saleThe remaining 2% is expected to be uncollectible Accounts payable are settled as follows, in accordance with the credit terms 2/30, n60:85% in the month in which the inventory is purchased15% in the following month The management of Pelican Merchandising has negotiated with a tenant to sublet…Pelican Merchandising & More is a family-owned store. The business is now approaching theend of the year and is in the process of identifying its cash needs for the first quarter of the newyear. You are the management accountant of the entity and have been tasked to prepare the cashbudget for the business for the quarter ending March 31, 2022. Extracts from the sales and purchases budgets are as follows: An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 4/30, n90:55% in the month of sale35% in the first month following the sale8% in the second month following the saleThe remaining 2% is expected to be uncollectible Accounts payable are settled as follows, in accordance with the credit terms 2/30, n60:85% in the month in which the inventory is purchased15% in the following month The management of Pelican Merchandising has negotiated with a tenant to sublet…