Castor, Inc., is preparing its master budget for the quarter ended June 30. Budgeted sales and cash payments for merchandise for the next three months follow. Salen Cash payments for $30,B00 $41,200 $25,200 22,600 15,600 16,000 sales are 75% cash and 25% on credit. All credit sales are collected in the month following the sale. The March 31 balance sheet includes balances of $13,200 in cash, $13,200 In accounts recelvable, $11,000 In accounts payable, and a $3,200 balance In loans payable. A minimum cash balance of $13,200 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is T% per month based on the beginning of the month loan balance and s paid at each month-end. It an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and include sales commissions 110% of sales), shipping (3% of sales), Office salaries ($4,200 per month), and rent ($6,200 per month). Prepare a cash budget for each of the months of April, May, and June. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) Cash Budget For April, May, and June April May June Beginning cash balance Cash sales Collections on account Total cash available Cash payments for: S 13,200 23,1 7,700 44,000 10,30 54,400 38,714 15 16 Sales commissions 92 Office salaries Rent Interest on bank loan Total cash payments 37,036 31,450 29,676 9,03 liminary cash balance Additional loan (loan Ending cash balance balance April May June Loan balance Additional loan (loan Loan balance End 9,436 6.23 (9.436) 4,162 ,43 S S 4,162 3,200 of month month