11. Calculating the Cash Budget [LO3] Here are some important figures from the budget of Nashville Nougats, Inc.. for the second quarter of 2021: Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases June April May $357,400 $342,500 $402,600 125,100 157,300 195,500 51,200 12,400 84,500 Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance 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 2021, credit sales were $245,300 and credit purchases were $149,300. Using this information, complete the following cash budget: 77,300 64,700 12,400 12,400 131,000 0 April May June $125,000

enanter of 20 ) 1 : The company peedicts that 5 perces of its credit rales will never be collected. 35 percent of is sales will be coliected in the nionth of the sale, and the remaining 60 percent will be coliested in the following moatt. Credit purchaser will be pais in the month following the purchase. In March 2021, credit sales were $245,300 and credit parchases vere $149,300. Uving this information, coroplete the folowing cash