Grenoble Enterprises had sales of $ 49500 in March and $ 59600 in April. Forecast sales for May, June, and July are $ 70500, $ 80200, and $ 100,400, respectively. The firm has a cash balance of $ 5000 on May 1 and wishes to maintain a minimum cash balance of $ 5000. Given the following data, prepare and interpret a cash budget for the months of May, June, and July. (1) The firm makes 20 % of sales for cash, 63 % are collected in the next month, and the remaining 17 % are collected in the second month following sale. (2) The firm receives other income of $ 2 comma 100 per month. (3) The firm's actual or expected purchases, all made for cash, are $ 50,000, $ 70,300, and $ 80,400 for the months of May through July, respectively. (4) Rent is $ 3300 per month. (5) Wages and salaries are 10 % of the previous month's sales. (6) Cash dividends of $ 3000 will be paid in June. (7) Payment of principal and interest of $ 4100 is due in June. (8) A cash purchase of equipment costing $ 6500 is scheduled in July. (9) Taxes of $ 6000 are due in June. Complete the first month of the cash budget for Grenoble Enterprises below:(Round to the nearest dollar. Please input all the values in the table before checking your answers.)

March April $ 49,500 $ 59,600 S 70,500 May Sales Cash sales Lag 1 month Lag 2 months Other income 9,900 11,920 S Total cash receipts Round to the nearest dollar. Please input all the values in the table before checking your answers.) March April May Disbursements Purchases Enter any number in the edit fields and then continue to the next