AP-10B LO 6 a Inc. provides you with the following budgeted information: May $510,000 June $450,000 280,000 July $550,000 Sales 150,000 250,000 Manufacturing Costs 120,000 400,000 Lal expenditures (machinery and buildings) 210,000 100,000 70,000 General and administration costs (excluding depreciation) 183 3096 will be cold month. The remainder month in which they Expectations Cash sales represent 10% of total sales. 70% of the credit sales is collected in the month of sale and the remaining 30% the following month The credit sales of April amounted to $400,000 60% of any month's capital expenditures is to be paid at the end of the month + be paid in the following month Manufacturing and general and administration costs are to be paid in the month incurred. Dividends of $3,000 are expected to be declared in June and paid in July Akma Inc. must have at least a $10,000 cash balance at the end of each month Excess cash over the required minimum cash balance has to be used towards Davine outstanding notes payable. Ignore interests on notes payable. The balance of the note payable as of May 1 is $0. The balance of cash as of May 1 is $15,000. ed towards paying off any Prepare a cash budget for each month in the quarter and the quarter as a whole. Akma Inc. Cash Budget for May, June and July May June July Period End