Archer Electronics Company$$s actual sales and purchases for April and May are shown here along with forecast sales and purchases for June through September:

Sales Purchases

April $($actual$)$ $ $370,000$ $ $155,000$

May $($actual$)350,000145,000$

June $($forecast$)325,000145,000$

July $($forecast$)325,000205,000$

August $($forecast$)340,000225,000$

September $($forecast$)380,000220,000$

The company makes $20$ percent of its sales for cash and $80$ percent on credit. Of the credit sales, $50$ percent are collected in the month after the sale and $50$ percent are collected two months later. Archer pays for $20$ percent of its purchases in the month after purchase and $80$ percent two months after.

Labor expense equals $15$ percent of the current month$$s sales. Overhead expense equals $$12,500$ per month. Interest payments of $$32,500$ are due in June and September. A cash dividend of $$52,500$ is scheduled to be paid in June. Tax payments of $$25,500$ are due in June and September. There is a scheduled capital outlay of $$350,000$ in September.

Archer Electronics$$ ending cash balance in May is $$22,500.$ The minimum desired cash balance is $$10,500.$

Prepare a schedule of monthly cash receipts for June through September.

Prepare a schedule of monthly cash payments for June through September.

Note: Input all amounts as positive. Leave no cells blank be certain to enter $0$ wherever required.

Prepare a complete monthly cash budget with borrowing and repayments for June through September. The maximum desired cash balance is $$50,500.$ Excess cash $($above $$50,500)$ is used to buy marketable securities$.$ Marketable securities are sold before borrowing funds in case of a cash shortfall $($less than $$10,500).$

Note: Negative amounts should be indicated by a minus sign. Assume the June beginning loan balance and beginning marketable security balance is $$0.$ Leave no cells blank be certain to enter $0$ wherever required.