2 (10 points) Saved Camper Supply Company is a merchandiser and has provided the following information Budgeted Sales (25% cash sales, 75% on credit) April May June $340,000 $280,000 $490,000 Accounts Receivable are budgeted to be collected 60% in the month of sale and 40% in the following month. Additional information for the month of June: Cash balance, June 1, 2022 $8,000 Minimum cash balance required $6,000 Merchandise purchases paid for in cash $240,000 Salaries expense $70,000 Selling and administrative expenses, excluding depreciation $81,000 Depreciation expense $9,000 Equipment purchase paid for in cash $45,000 At the beginning of June, the company's outstanding line of credit balance is $0. Interest on outstanding loan balances will be paid in the following month. ft Required: 1. Prepare a schedule of expected cash collections from sales for the month of June. (3 marks) 2. Prepare a Cash Budget for the month ending June 30, 2022. (7 marks)