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Paul's Pool Service provides pool cleaning, chemical application and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 70 percent of their fees in the month the service is provided in the month following service Paul collects 25 percent of service fees. The final 5 percent is collected in the second month following service, Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase of the supplies Paul purchases. 80 percent is used in the month of purchase, and the remainder is used in the month following purchase The following information is available for the months of June, July and August, which are Poul's busiest months June 1 cash balance $15.100 June 1 supplies on hand $4 100. June 1 accounts receivable $8,500 June 1 accounts payable $4,000 Estimated sales for June July, and August are $25,500 $38,300 and $40,900, respectively Soles during May were $23.900, and sales during April were $17100 Estimated purchases for June July, and August are $9,400, 518,000 and $12.900, respectively Purchases in May were 55,200 . rences . Required: 1. Compute budgeted cash receipts and budgeted cash payments for each month, June July August Budgeted Cash Receipts Budgeted Cash Payments Homework a Hain Save & Etui Check my word 2. Compute the balances necessary to prepare a budgeted balance sheet for August 31 for each of the following accounts 91 polis Balances for August Budgeted Balance sheet Cash une Balance At the Les To Can Payme AB Supplies inventory 2015 August Purchase Acoounts Receivable NON Of Sales 5% of us Biance August 31 Accounts Payable son of Aug Purchase ME

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