Charles Farm's intern was working on the cash budget for June. The intern was called away suddenly for a family emergency. During the month, Charles's cash sales were $31800 and Charles collects 60% of credit sales during the month of sale. What was the dollar amount of Charles's credit sales? $4200 Beginning cash balance Cash Receipts Total cash available to spend 300000 304200 Less Disbursements: 268000 Materials purchases Selling and administrative expenses Total cash disbursements 54600 322600 -18400 Cash excess (needed) Borrowing Ending cash balance 22400 4000 $553000 $468200 $199080 $447000