Here are some important figures from the budget of Blocher, Inc., for the second quarter of 2013.

The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.
In March 2013, credit sales were $390,000. Using this information, complete the following cash budget:

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April May June $416,000 196,000 Credit sales $478,000 $522,000 210,000 Cash disbursoments Wages, taxes, and expenses Interest 95,200 11,000 37,200 11,000 4,200 124,200 11,000 72,300 April $127,000 May June Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases 201,000 Total cash disbursements Ending cash balance