Cautoe incornorsied it preparing its master budget. Budgeted swles and cash poymeets fot morchandse purchases for the next three montts folow. Soies are 501 cash and 501 on credt. Sales in March wete 528.800. All creditsies are colocted in the moeth following the sile. The Merch 31 balance then inclades balances of $14,400 in cash and $2,400 la laars poyable. A minimum cash balance of $14.400 is requived, tosns are ottaned at eie end of any month when the greliminacy cah belance it below 54.400, interest is 15 per month besed on the beginning-of the month ioan bsiance and is poid at each monthend. If a prelininsry cash balance abeve 5 th.400 at moathend exats, loans are repaid trom the excess. Expenses are paid in the month incuared and include sales compissions (tors of (a) Prepate a schedule of cash recepts trom sales for Apri, Moy, and dune. () Prepere a cash bodget for each of Apri, May, and duna. (Negative balances and toan repayenent amounta (if anyl thould be indicoted with minus algn, Round your final anwwers to the nearest whole dotlar? Chapter 20 Homework (i) Cautoe incornorsied it preparing its master budget. Budgeted swles and cash poymeets fot morchandse purchases for the next three montts folow. Soies are 501 cash and 501 on credt. Sales in March wete 528.800. All creditsies are colocted in the moeth following the sile. The Merch 31 balance then inclades balances of $14,400 in cash and $2,400 la laars poyable. A minimum cash balance of $14.400 is requived, tosns are ottaned at eie end of any month when the greliminacy cah belance it below 54.400, interest is 15 per month besed on the beginning-of the month ioan bsiance and is poid at each monthend. If a prelininsry cash balance abeve 5 th.400 at moathend exats, loans are repaid trom the excess. Expenses are paid in the month incuared and include sales compissions (tors of (a) Prepate a schedule of cash recepts trom sales for Apri, Moy, and dune. () Prepere a cash bodget for each of Apri, May, and duna. (Negative balances and toan repayenent amounta (if anyl thould be indicoted with minus algn, Round your final anwwers to the nearest whole dotlar? Chapter 20 Homework (i)