Castor Incorporated is preparing its master budget. Budgeted sales and cash payments for merchandise purchases for the next three

months follow.

Sales are $50\%$ cash and $50\%$ on credit. Sales in March were $$34,800.$ All credit sales are collected in the month following the sale. The

March $31$ balance sheet includes balances of $$17,400$ in cash and $$2,900$ in loans payable. A minimum cash balance of $$17,400$ is

required. Loans are obtained at the end of any month when the preliminary cash balance is below $$17,400.$ Interest is $1\%$ per month

based on the beginning$-$of$-$the$-$month loan balance and is paid at each month$-$end. If a preliminary cash balance above $$17,400$ at

month$-$end exists, loans are repaid from the excess. Expenses are paid in the month incurred and include sales commissions $10\%$ of

sales$),$ shipping $(2\%$ of sales$),$ office salaries $($ $$7,250$ per month$),$ and rent $($ $$4,350$ per month$).$

$($a$)$ Prepare a schedule of cash receipts from sales for April, May, and June. $($b$)$ Prepare a cash budget for each 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.$)$