Edwards Company has projected sales and production in units for the second quarter of the year as follows:
	April	May	June
Sales	30,000	20,000	25,000
Production	25,000	25,000	30,000
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?