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: April May June Sales $ 38,388 $ 41,70 $ 25,700 Cash payments for merchandise 23,600 15.100 15,5ee Budgeted 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 $13,700 in cash. $13.700 in accounts receivable, $12,700 in accounts payable, and a $3.700 balance in loans payable. A minimum cash balance of $13,700 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 (4% of sales). office salaries ($6,700 per month), and rent ($4.700 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 April 13,700 May June Beginning cash balance Total cash available Cash payments for Total cash payments Preliminary cash balance Ending cash balance Loan balance May June April 3,700 $ Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month