Ellis Electronics Companys actual sales and purchases for April and May are shown here, along with forecasted sales and purchases for June through September.

	Sales	Purchases
April (actual)	$450,000	$143,000
May (actual)	430,000	133,000
June (forecast)	405,000	133,000
July (forecast)	405,000	193,000
August (forecast)	420,000	213,000
September (forecast)	460,000	183,000

The company makes 20 percent of its sales for cash and 80 percent on credit. Of the credit sales, 30 percent are collected in the month after the sale and 70 percent are collected two months after. Ellis pays for 20 percent of its purchases in the month after purchase and 80 percent two months after.

Labour expense equals 25 percent of the current month's sales. Overhead expense equals $13,300 per month. Interest payments of $36,500 are due in June and September. A cash dividend of $56,500 is scheduled to be paid in June. Tax payments of $26,300 are due in June and September. There is a scheduled capital outlay of $430,000 in September.

Ellis Electronics' ending cash balance in May is $26,500. The minimum desired cash balance is $21,500.

a. Prepare a schedule of monthly cash receipts for June through September. Prepare the monthly cash payments for June through September. Jrepare a complete monthly cash budget with borrowing and repayments for June through September. The maximum desired cash Prepare the monthly cash payments for June through September. Jrepare a complete monthly cash budget with borrowing and repayments for June through September. The maximum desired cash Ellis Electronics Company's actual sales and purchases for April and May are shown here, along with forecasted sales and purchases for June through September The company makes 20 percent of its sales for cash and 80 percent on credit of the credit sales, 30 percent are collected in the month after the sale and 70 percent are collected two months after. Elis pays for 20 percent of its purchases in the month after purchase and 80 percent twopmonths after. Labour expense equals 25 percent of the current month's sales. Overhead expense equals $13,300 per month interest payments of $36,500 are due in June and September. A cash dividend of $56,500 is scheduled to be paid in June, Tax payments of $26,300 are due in June and September. There is a scheduled capital outay of $430,000 in September. Ellis Electronics' ending cash balance in May is $26,500. The minimum desired cash balance is $21,500. is Electronics' ending cash balance in May is $26,500. The minimum desired cash balance is $21,500. Prepare a schedule of monthly cash receipts for June through September. . Prepare the monthly cash payments for June through September. c. Prepare a complete monthly cash budget with borrowing and repayments for June through September. The maximum desired cash balance is $51,300. Excess cash (above $51,300 ) is used to buy marketable securities. Marketable securities are sold before borrowing funds in case of a cash shortall (less than $21,500 ). (Omit $ sign in your response. Do not leave any empty spaces; input a 0 wherever it is required. Negative answers and amounts to be deducted should be indicated by a minus sign.) Prepare the monthly cash payments for June through September Prepare a complete monthly cash budget with borrowing and repayments for June through September. The maximum desired cash Nance is $51,300. Excess cash (above $51,300 ) is used to buy marketable securities. Marketable securities are sold before borrowing