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
Budgeted sales	$	30,000	$	42,000	$	26,000
Budgeted cash payments for merchandise		24,200		14,800		13,500

Sales are 80% cash and 20% on credit. All credit sales are collected in the month following the sale. The March 30 balance sheet includes balances of $14,000 in cash, $14,000 in accounts receivable, $11,000 in accounts payable, and a $4,000 balance in loans payable. A minimum cash balance of $14,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% 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 consist of sales commissions (10% of sales), shipping (4% of sales), office salaries ($5,000 per month) and rent ($7,000 per month).

Prepare a cash budget for each of the months of April, May, and June.