You recently began a job as an accounting intern at Ralph Golf Park. Your first task was to help prepare the cash budget for April and May. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy.

You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget.

Ralph Golf Park eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 8%. Ralph Golf Park pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month, as cash becomes available.
Requirement 

1. Complete the cash budget.

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RALPH GOLF PARK Cash Budget April and May Beginning cash balance Cash collections Cash from sale of plant assets Cash available Cash payments: Purchase of inventory Operating expenses Total payments Ending cash balance before financing Less: Minimum cash balance desired Cash excess (deficiency) Financing of cash deficiency: Borrowing (at end of month) Principal repayments (at end of month) Interest expense Total effects of financing Ending cash balance April May $ 16,200 $ ? 80,100 0 2,000 106,300 2 ? $ 41,600 47,400 ? 98,000 2 ? 27,500 (25,000) (25,000) $ ? S 2 ? ? ? ? S ? $