Castor incorporsted is prepwing its master budget. Budgeted sbies and cash peyments for merthandise purchases for the nest three monthis follow. Sales are SOK canh aod S0s on credit. Sales in March were 544, 400. Aut credt cales are colected in the month folowing the swie. The March 31 bolance sheet includes balances of $22,200 in cash and $3,700 in loans payabie. A minimum cash bulance of 522.200 is required. Loans are obtalied at the end of any month when the preliminary cash balance is below $22.200. Irtinest is thi per month bated on the beghning-ot the menth lomn bolance and is paid at eoch month-end if a preliminary cash balance above 322.200 at month end evits, lobms are repaid from the exeest. Expenses are paid in the morth incirtbd and inchob cales commitsions fors of sales), shipoing (2\% of nales) office salaries (50.250 per month), and rent (\$5,550 per moneh) (a) Prepsre a schedule of cash receipts thom sales for Apri. May, and June. (b) Prepare a cash budget for each of Aperi, May, and June (Negative belances and Loan repayment amounts of any) ahould be indicated with minus sign. Pound your final answers fo the nearest whole dollar) Sales are 50% cash and 50% on credit. Sales in March were $44,400. All credit sales are collected in the manth following the sale. The March 31 balance sheet includes balances of $22,200 in cash and $3,700 in loans poyable. A minimum cash balance of $22,200 is required, Loans are obtained at the end of any month when the preliminary cash balance is below $22,200. Interest is tw per month based on the beginning-of-the-month loan balance and is paid at each month-end, If a preliminary cash balance above 522,200 at month-end exists, loans are repald from the excess. Expenses are paid in the month incurred and include sales commissions (00s of sales), shipping (2\% of sales), office salaries (\$9,250 per month), and rent ($5,550 per month). (a) Prepare a schedule of cash receipts from sales for Aprii, 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. Pound your final answers to the nearest whole dollac.) Castor incorporsted is prepwing its master budget. Budgeted sbies and cash peyments for merthandise purchases for the nest three monthis follow. Sales are SOK canh aod S0s on credit. Sales in March were 544, 400. Aut credt cales are colected in the month folowing the swie. The March 31 bolance sheet includes balances of $22,200 in cash and $3,700 in loans payabie. A minimum cash bulance of 522.200 is required. Loans are obtalied at the end of any month when the preliminary cash balance is below $22.200. Irtinest is thi per month bated on the beghning-ot the menth lomn bolance and is paid at eoch month-end if a preliminary cash balance above 322.200 at month end evits, lobms are repaid from the exeest. Expenses are paid in the morth incirtbd and inchob cales commitsions fors of sales), shipoing (2\% of nales) office salaries (50.250 per month), and rent (\$5,550 per moneh) (a) Prepsre a schedule of cash receipts thom sales for Apri. May, and June. (b) Prepare a cash budget for each of Aperi, May, and June (Negative belances and Loan repayment amounts of any) ahould be indicated with minus sign. Pound your final answers fo the nearest whole dollar) Sales are 50% cash and 50% on credit. Sales in March were $44,400. All credit sales are collected in the manth following the sale. The March 31 balance sheet includes balances of $22,200 in cash and $3,700 in loans poyable. A minimum cash balance of $22,200 is required, Loans are obtained at the end of any month when the preliminary cash balance is below $22,200. Interest is tw per month based on the beginning-of-the-month loan balance and is paid at each month-end, If a preliminary cash balance above 522,200 at month-end exists, loans are repald from the excess. Expenses are paid in the month incurred and include sales commissions (00s of sales), shipping (2\% of sales), office salaries (\$9,250 per month), and rent ($5,550 per month). (a) Prepare a schedule of cash receipts from sales for Aprii, 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. Pound your final answers to the nearest whole dollac.)