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Check m Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2018: Credit sales Credit purchases Cash disbursements $315,000 $295,000 $355,000 123,000146,000 171,000 Wages, taxes, and expenses 43,500 11,000 62,500 Interest 0,500 10,500 10,500 0 Equipment purchases75,000 140,000 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 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 $185,000 and credit purchases were $125,000. 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 118,000 Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance Prey 4of5u Next >