Capers Co. prepared cash estimates for the next four months. The following estimates were developed for certain items: Item Cash sales Credit sales Payroll Purchases Other expenses March $14,000 10,000 3,000 7,000 5,000 April $8,000 4,000 2,500 5,400 4,800 May June $9,000 $13,000 12,000 18,000 3,500 4,000 5,600 8,000 5,200 5,600 In February, credit sales totaled $18,000, and purchases totaled $10,000. January credit sales were $24,000. Accounts receivables collections amount to 60% in the month after the sale and 35% in the second month after the sale: 5% of the receivables are never collected. Payroll and other expenses are paid in the month incurred, as are 50% of the purchases. The remainder of the purchases are paid in the following month. The cash balance was $7,000 on March 1. A $20,000 tax payment is due on June 5. Instructions: Prepare a cash budget for the four-month period (March through June), using the form provided below. Capers Co. Cash Budge For March - June 20XX Receipts from: March April May June IS S Cash sales January credit sales. February credit sales. March credit sales. April credit sales.. May credit sales. Total receipts Receipts from: March April May June S s s Cash sales... January credit sales February credit sales March credit sales... April credit sales.... May credit sales. Total receipts . is S S S S S Disbursements for: Payroll. Other expenses. February purchases(50/50... March purchases. April purchases.. May purchases.. June purchases Tax payment. Total disbursements. S Net increse(decrease) in cash: Receipts less disbursements... S Cash balances: Beginning Ending