Deacon Company is a merchandising company that is preparing a budget for the three$-$month period ended June $30.$ The following information is available

Budgeting Assumptions:

a$.60\%$ of sales are cash sales and $40\%$ of sales are credit sales. Twenty percent of all credit sales are collected in the month of sale and the remaining $80\%$ are collected in the month subsequent to the sale.

b$.$ Budgeted sales for July are $$160,000.$

c$.10\%$ of merchandise inventory purchases are paid in cash at the time of the purchase. The remaining $90\%$ of purchases are credit purchases. All purchases on credit are paid in the month subsequent to the purchase. The accounts payable at March $31$ will be paid in April.

d$.$ Each month's ending merchandise inventory should equal $$10,000$ plus $50\%$ of the next month's cost of goods sold.

e$.$ Depreciation expense is $$1,900$ per month. All other selling and administrative expenses are paid in full in the month the expense is incurred.

$\backslash$table$[[$Assets$],[$Cash$,$$$,62,000],[$Accounts receivable,,$43,600],[$Inventory$,,46,000],[$Buildings and equipment, net of depreciation,,$107,000],[$Total assets,$$,258,600],[$Liabilities and Stockholders' Equity,,$],[$Accounts payable,$$,63,600],[$Common stock,,$70,000],[$Retained earnings,,$125,000],[$Total liabilities and stockholders' equity,$$,258,600]]$

Budgeting Assumptions:

a$.60\%$ of sales are cash sales and $40\%$ of sales are credit sales. Twenty percent of all credit sales are collected in the month of sale and the remaining $80\%$ are collected in the month subsequent to the sale.

b$.$ Budgeted sales for July are $$160,000.$

c$.10\%$ of merchandise inventory purchases are paid in cash at the time of the purchase. The remaining $90\%$ of purchases are credit purchases. All purchases on credit are paid in the month subsequent to the purchase. The accounts payable at March $31$ will be paid in April.

d$.$ Each month's ending merchandise inventory should equal $$10,000$ plus $50\%$ of the next month's cost of goods sold.

e$.$ Depreciation expense is $$1,900$ per month. All other selling and administrative expenses are paid in full in the month the expense is incurred.

Required:

Calculate the expected cash collections for April, May, and June.

Calculate the budgeted merchandise purchases for April, May, and June.

Calculate the expected cash disbursements for merchandise purchases for April, May, and June.

Prepare a budgeted balance sheet at June $30.($Hint: You need to calculate the cash paid for selling and administrative expenses during April, May, and June to determine the cash balance in your June $30$ balance sheet.$)$