Create a cash budget from April to July based on the following information.

1. Unit sales for April = $9,000, May = 10,200, June =11,544, July = 12,049
2. Selling price per unit is $3.05. Sales are 50% credit and 50% cash. Sales terms are net 30 days
3. Cost of Goods per unit is $1.95. Terms of Purchase are net 30 days
4. Opening Accounts Payable balance in Apr is $5,000 and the Opening Cash balance is 10,000
5. A minimum cash balance of $3,000 is required at all times
6. Expenses are 45% of Sales and are paid in the month they are incurred
7. The company will be purchasing new equipment for $12,000 and must pay for in Apr

Show the work on excel and step by step.