Prepare a cash budget for the month ended May 31, 2016. Campton Company anticipates a cash balance of \($84,000\) on May 1, 2016. The following budgeted transactions for May 2016 present data related to anticipated cash receipts and cash disbursements:

1.For May, budgeted cash sales are \($60,000\) and budgeted credit sales are \($500,000.\) (Credit sales for April were \($450,000.)\) In the month of sale, 40% of credit sales are collected, with the balance collected in the month following sale.

2.Budgeted merchandise purchases for May are \($280,000.\) (Merchandise purchases in April were

\($240,000.)\) In the month of purchase, 70% of merchandise purchases are paid for, and the balance is paid for in the following month.

3.Budgeted cash disbursements for salaries and operating expenses for May total 

\($165,000\) .

4.During May, \($25,000\) of principal repayment and \($4,000\) of interest payment are due to the bank.

5.A \($20,000\) income tax deposit is due to the federal government during May.

6.A new delivery truck will be purchased during May for \($6,000\) cash and an \($8,000\) note payable. Depreciation for May will be \($500\) .

Prepare a cash budget for Campton Company for the month of May 2016.