Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2016:

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 2016, credit sales were $332,640, and credit purchases were $247,100.
Using this information, complete the following cash budget:

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May $601,900 $627,300 $693,790 232,850 277,900 317,380 April June Credit sales Credit purchases Cash disbursements 62,964 76,364 18,058 79,670 18,058 0 Interest Equipment purchases 131,400 144,200 April May June Beginning cash balance Cash receipts $443,500 Cash collections from credit sales Cash disbursements Purchases Wages, taxes, and expenses Interest Total cash disbursements Ending cash balance