2. [The cash budget) Here are some important figures from the budget of Nashville, Inc., for the second quarter of 2018: April May June Credit sales $336,900 $314,500 $378,400 Credit purchases 134,100 152,400 180,3001 Cash disbursement Wages, taxes, and expenses 48,910 62,300 67,600 Interest 11,320 11,320 11,320 Equipment purchases 79,900 122,000 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 sales, 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 2018, credit sales were $211,500 and credit purchases were $145,200. Using this information, complete the following cash budget: April May June Beginning cash balance $121,000 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