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 $39,600. All credit sales are collected in the month following the sale. The March 31 balance sheet includes balances of $19,800 in cash and $3,300 in loans payable. A minimum cash balance of $19,800 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $19,800. 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 $19,800 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 ( $8,250 per month), and rent ( $4,950 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