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:

Budgeted	April			May			June
Sales	$	30,100		$	41,900		$	25,900
Cash payments for merchandise		24,000			14,900			15,300

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 $13,900 in cash, $13,900 in accounts receivable, $11,000 in accounts payable, and a $3,900 balance in loans payable. A minimum cash balance of $13,900 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 2% per month based on the beginning of the month loan balance and is paid at each month-end. If 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 (5% of sales), shipping (2% of sales), office salaries ($4,900 per month), and rent ($6,900 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.)

CASTOR, INC. Cash Budget For April, May, and June June $ $ $ Beginning cash balance Cash sales Collections on account Total cash available Cash payments for: Merchandise April 13,900 22,575 13,900 50,375 May 13,900 31,425 7,525 52,850 13,900X 19,425 10,475 43,800 14,900 15,300 Sales commissions Shipping Office salaries 24,000 11,000 X 1,505 602 4,900 6,900 78 48,985 1,390 X 1,210X 13,900 2,095 838 4,900 6,900 328 X Rent Interest on bank loan 1,295 518 4,900 6,900 148X 29,061 14,739 X (839) 13,900 X 29,961 Total cash payments Preliminary cash balance Additional loan (loan repayment) Ending cash balance 22,889 X (8,989) 13,900 X Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month Loan balance April $ 3,900 $ 12,510X $ 16,410 $ May 16,410 $ (8,989) 7,421 $ June 7,421 (839) 6,582