6 b. c. Compute the sales fot December Compute the cash collections from sales for each month from January through March. 1, Calculating the Cash Budget. Here are some important figures from the budget of Marston, Inc. for the second quarter of 2016. May June Credit sales Credit purchases Cash disbursements $574,000 252,000 $499,000 235,000 $626,000 282,000 Wages, taxes, and expenses Interest Equipment purchases 114,000 13,000 44,600 107,800 13,000 149,000 13,000 207,000 5,500 The company predicts that 5 percent of its credit sales will never be col- lected, 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 2016, credit sales were $468,000. Using this information, complete the following cash budget: April May June Beginning cash balance Cash receipts $152,000 Cash collections from credit sales Total cash available Cash disbursements 241,000 Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance