c$.$ Merchandise purchases are paid in full during the month following purchase. Accounts payable for merchandise purchases during

March, which will be paid in April, total $$140,000.$

Required:

Calculate the expected cash collections for April, May, and June, and for the three months in total.

Prepare a cash budget, by month and in total, for the three$-$month period. Assume the $$30,000$ loan is made on April $1$ and repaid with

interest on June $30.$

If the company needs a minimum cash balance of $$20,000$ to start each month, can the loan be repaid as planned? Explain.