do not use excel urgent

Question 2 (marks 25) The following information is budgeted for CW Plumbing Supply Company for next quarter April May June Sales $110,000 $130,000 $180,000 Merchandise purchases $85,000 $92,000 $105.000 Selling and administrative expenses $50,000 $50,000 $50,000 All sales at CW are on credit. 40% are collected in the month of sale, 58% in the month following the sale, and the remaining 2% are uncollectible. Merchandise purchases are paid in full the month following the month of purchase. The selling and administrative expenses above include $8,000 of depreciation on display fixtures and warehouse equipment. All other selling and administrative expenses are paid as incurred. CW wants to maintain a cash balance of $15,000. Any amount below this can be borrowed from a local bank as needed in increments of $1,000. All borrowings are made at month end Urgent Required: 1. Prepare CW's cash budget for the month of May. CW expects to have $24,000 of cash on hand at the beginning of May