8) Donald Company has the following information: Cash Balance, May 31 Dividends paid in June Cash paid for operating expenses in June Equipment depreciation expense in June Patent amortization expense in June Cash collections on sales in June Merchandise purchases paid in June Purchase equipment for cash in June $45,000 12,000 36,800 4,500 2,000 99,000 56,200 17,500 Donald Company wants to keep a minimum cash balance of $10,000. Assume that borrowing occurs at the beginning of the month and repayments occur at the end of the mon of each month when debt is outstanding. Borrowing and repayments are carried out in multiples of $1,000 th. Interest of 1% is paid in cash at the end Required: Prepare a cash budget for June