Complete d through g please and thank you Munoz Company is a retail company that specializes in selling outdoor camping equipment. The company is consideringopening a new store on October 1, year 1. The company president formed a planning committee to prepare a masterbudget for the first three months of operation. As budget coordinator, you have been assigned the following tasks.Requireda October sales are estimated to be $340,000, of which 40 percent will be cash and 60 percent will be credit. The company expectssales to increase at the rate of 20 percent per month. Prepare a sales budget.b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale.Prepare a schedule of cash receipts.c. The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percentthe next month's cost of goods sold. However, ending inventory of December is expected to be $12,900. Assume that all purchasesare made on account. Prepare an inventory purchases budget.d. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month.Prepare a cash payments budget for inventory purchases.e. Budgeted selling and administrative expenses per month follow:Salary expense (fixed)Sales commissionsSupplies expenseDeilities (fixed)Depreciation on store fixtures (fixed) •Rent (fixed)Miscellaneoun (fixed)The capital expenditures budget indicates that Munoz will spend $146,600 on October 1 for store fixtures, which are expected tohave a $29,000 salvage value and a two-year (24-month) useful life.Use this information to prepare a selling and administrative expenses budget.Required A£ Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which theyare incurred. Prepare a cash payments budget for selling and administrative expenses.g. Munoz borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in anyamount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cashon the last day of the month. To be prudent, the company desires to maintain a $21,000 cash balance. Prepare a cash budget.Required B$ 18,90042Complete this question by entering your answers in the tabs below.$ 2,300$ 4,900$ 5,700$ 2,100Required DRequired CSchedule of Cash Payments Budget for InventoryPurchasesPayment of current month's accounts payablePayment for prior month's accounts payableTotal budgeted payment for inventorySof Salenof SalesThe company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the followingmonth. Prepare a cash payments budget for inventory purchases.Note: Round your final answers to the nearest whole dollar amounts.Required EOctoberDProvA8-85of 1Next

Hi studentSince there are multiple subparts asked, we will answer only first three subparts from d…

Munoz Company is a retall company that specializes in selling outdoor camping equipment. opening a new store on October 1 year 1. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks. Required a October sales are estimated to be $340,000, of which 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. c. The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent the next month's cost of goods sold. However, ending inventory of December is expected to be $12,900. Assume that all purchases are made on account. Prepare an Inventory purchases budget. d. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. Prepare a cash payments budget for inventory purchases. e. Budgeted selling and administrative expenses per month follow: Salary expense (fixed) Balms commissions Supplies expense Utilities (fixed) Depreciation on store fixtures (fixed)• Rent (fixed) Miscellaneous (fixed) $ 18,900 4 2 $ 2,300 $ 4,900 $ 5,700 $ 2,100 of Salen of Sales "The capital expenditures budget indicates that Munoz will spend $146,600 on October 1 for store fixtures, which are expected to have a $29,000 salvage value and a two-year (24-month) useful life. Use this information to prepare a selling and administrative expenses budget. £ Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. of $1000 and repays them on the last day of the month. Repayments may be made in any month in cash