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Please answer the following question BeachCuddly, Inc produces a highly absorbent...

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Accounting

Please answer the following question
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BeachCuddly, Inc produces a highly absorbent beach towel. They are working on the budgets for April, May, & June (Q2) and have for your help. The unit sales forecast for the next months is: The towels sell for $15 each. Traditionally, 20% of the sales are made in cash and the remaining 80% are made on store credit. The credit sales are collected 10% in the current month and 90% in the next month. march sales are budgeted at $275,000 BeachCuddly likes to maintain an ending inventory of finished goods of 15% of next month's projected sales forecast. Each towel cost BeachCuddly $7 to buy. Complete the following budgets. Sales budget (for April, May & June) Cash Receipts budget (June only) Determine the following balances: Sales revenue on the Q_2 pro-formal income statement Accounts Receivable amount on the June 30 balance sheet. COGS on the Pro-forma income statement

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