65 percent will be collected in the following mo th. credit purchases will be paid in the month following the purchase

Here are some important figures from the budget of Marston, Inc., for the second quarter of 2016: April $415,000 192,000 May $364,000 180,000 June $452,000 213,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 81,000 10,700 39,500 76,500 10,700 12,000 105 200 10,700 160,000 The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the purchases will be paid in the month following the purchase. In March 2016, credit sales were $342.000. Using this information, complete the following cash budget: (Do not round intermediate calculations and round your answers to the nearest whole number, e... 32.) May June April $ 122,000 S 184 000 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