Can u do all budgets and focus on the finance part of the cash budget, for june do we borrow again because we must have a min cash balance of 5000?

The following data relate to the operations of Medco Company, a wholesale distributor of consumer goods: As of March 31 (USD): Cash 10,500 Accounts payable 36,500 Accounts receivable 21,000 Capital stock 40,000 Inventory 10,080 Retained earnings 105,080 Buildings and equipment (net) 140,000 Assumptions a) Gross margin is of sales 30% b) Actual and budgeted sales data: USD March (actual) 70,000 June 84,000 April 72,000 July 80,000 May 73,000 c) Sales are for cash and on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are the result of March credit sales. Break down between Cash & Credit sales is as follow: Cash Sale 70% Credit Sales 30% Each month's ending inventory should equal 20% of the following month's budgeted cost of goods sold. 25% of a month's inventory purchases are paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable at March 31 are a result of March purchases of inventory. Monthly expenses are as follows: salaries and wages, $12,500 per month; rent, $3,600 per month; other expenses (excluding depreciation), 8% of sales. Assume that these expenses are paid monthly. Depreciation is $1,000 per month (includes depreciation on new assets). Equipment costing $9,000 will be purchased for cash in April. The company must maintain a minimum cash balance of $5,000. An open line of credit is available at a local bank. All borrowing is done at the beginning of a month, and all repayments are made at the end of a month; borrowing must be in multiples of $1,000. The annual interest rate is 12%. Interest is paid only at the time of repayment of principal; figure interest on whole months (1/12, 2/12, and so forth). n .. .. . . . . 1 Complete the following cash budget (17 Points) Quarter - Total Explanation (Cash deficiency, repayments and interest should be indicated by a minus sign.) April May June Cash balance, beginning Add cash collections Total cash available Less cash disbursements: For inventory For expenses For equipment Total cash disbursements Excess (deficiency) of cash Financing: Borrowings Repayments Interest Total financing Cash balance, ending