Consider the following partial cash budget prepared by the owners of Expert Computer Consultants for the upcoming quarter CASH BUDGET - EXPERT COMPUTER CONSULTANTS Month 1 Month 2 Month 3 Cash Receipts Total Sales Credit Sales Collections 10 percent same month 80 percent next month19.941 $42,650 $45,500$47,000 25,590 27,30028,200 2,5592,730 2,820 20,472 21.840 1,864 1,9942,048 17,060 18,200 18,800 8percent following month 1.864 1.994 2,048 Cash Sales Total Cash Receipts Cash Disbursements Purchases Wages/Salaries Rent/Utilities Other Total Cash Disbursements 40,88143,824 End of Month Balance Beginning Cash Cash Receipts $32,404 $33,267 $35,490 4,212 4,8975, 126 1,8651,9102,250 2,4003,7506,105 48,971 $4,750 Disbursements 40.881 43,824 48.971 40,881 43,82448,971 EOM Balance Borrow Repay The end-of-month (EOM) balances for months 1, 2, and 3, respectively are $5,293, $4,865, and $1,402 $6,519, $8,195, and $6,224 -$10,541, -$12,524, and -$16,771 $32,109, $61,085, and $87,314