Consider the budgeted income statement for Carol Company for June 20x4 EEE (Click the icon to view the income statement.) The cash balance, May 31, 20X4, is S18,000. Sales proceeds are collected as follows: 80% the month of sale, 10% the second month, and 10% the third month. Accounts receivable are S60,000 on May 31, 20X4, consisting of S24,000 from April sales and S36,000 from May sales. Accounts payable on May 31, 20X4, are $142,000. Caroll Company pays 20% of purchases during the month of purchase and the remainder during the following month. All operating expenses requiring cash are paid during the month of recognition, except that insurance and property taxes are paid annually in December for the forthcoming year. Requirement 1. Prepare a cash budget for June. Confine your analysis to the given data. Ignore income taxes Requirement 1. Prepare a cash budget for June. (Round your answers to the nearest whole number) Caroll Company Cash Budget For the Month Ended June 20, 20X4 (in thousands) Beginning Cash, May 31, 20X4 Cash Reciepts: Collections from customers from: June sales May sales