Devry ACCT505 Week 5 Measuring Performance – Course Project A

ACCT 505 Week 5 Measuring Performance – Course Project APrepare a master budget for the three-month period ending June 30. Include the following detailed budgets:· 1.o a. A sales budget, by month and in total.o b. A schedule of expected cash collections from sales, by month and in total.o c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total.o d. A schedule of expected cash disbursements for merchandise purchases, by month and in total.· 2. A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash balance of $50,000.· 3. A budgeted income statement for the three-month period ending June 30. Use the contribution approach.· 4. A budgeted balance sheet as of June 30.