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:

$\backslash$table$[[,$Sales,Purchases$],[$April $($actual$),370,000,155,000],[$May $($actual$),350,000,145,000],[$June $($forecast$),325,000,145,000],[$July $($forecast$),325,000,205,000],[$August$,340,000,225,000],[\backslash$table$[[($forecast$)],[$September$],[($forecast$)]],380,000,220,000]]$

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.$

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

$\backslash$table$[[$Archer Electronics$],[$Cash Receipts Schedule$],[,$April,May,June,July,August,September$],[$Sales$,,,,,,],[$Credit sales,,,,,,$],[$Cash sales,,,,,,$],[\backslash$table$[[$One month after$],[$sale$]],,,,,,],[\backslash$table$[[$Two months after$],[$sale$]],,,,,,],[$Total cash receipts,,,,,,$]]$ b$.$ 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.

$\backslash$table$[[$Archer Electronics$],[$Cash Payments Schedule$],[,$April,May,June,,July,August,September$],[$Materials purchases$],[\backslash$table$[[\backslash$table$[[\backslash$table$[[$Materials: One month after$],[$purchase$]],,,,]]]]],[\backslash$table$[[\backslash$table$[[\backslash$table$[[$Materials: Two months after$],[$purchase$]],,,]]]]],[$Labor expense$],[$Overhead expense$],[$Interest payments$],[$Dividend payments$],[$Tax payments$],[$Capital outlay$],[$Total payments,,,$$,0,0,$$$,$$$]]$

c$.$ 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.