Edwards Company has projected sales and production in units for the second quarter of the/ear as follows: Assume that all units will be sold on account for $15 each. Cash collections from sales are budgeted at 70% in the month of sale 20% in the month following the month of sale the remaining 10% in the second month following the month of sale Accounts receivable on March 31 totaled $255,000 ($45,000 from February's sales and the remainder from March.) Production (inventory) costs of $10 per unit are paid in the month after they are incurred. Edwards produced 27,000 units in March. Selling and administrative expenses (excluding depreciation) are budgeted to be 15% of each month's sales. Prepare a schedule for budgeted cash receipts in April, May, and June for Edwards Company. Calculate the accounts receivable balance as of June 30. Prepare a schedule of cash disbursements in April, May, and June for Edwards Company. Edwards Company wants to purchase equipment costing $50,000 some time in the second quarter. When should it make the purchase, assuming that it must pay immediately upon purchase