April 118,000 141,000 166,000 43,000 10,000 May $310,000 $290,000 $350,000 June Credit sales Credit purchases Cash disbursements Wages, taxes, and 10,500 62,000 expenses Interest Equipment purchases 70,000 130,000 10,000 10,000 0 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 following month. Credit purchases will be paid in the month following the purchase In March 2018, credit sales were $180,000 and credit purchases were $120,000. Using this information, complete the following cash budget: (Do not round intermediate calculations. Leave no cells blank- be certain to enter "O" wherever required.) April May June Beginning cash balance Cash receipts 113,000 Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance