Harvest Oaks Furniture, Inc. manufactures wooden dining chairs that sell for $100 each. The company is preparing its second quarter budget. The following information has been assembled. Use the in for mation in A-C to answer Part 1 A. Estimated unit sales for the next several months: Units Month April May June July August 25,000 30,000 22,000 20,000 24,000 B. 20% of sales are for cash at the time of sale. The remaining 80% of sales are on account. These sales on account are usually collected in the following pattern 35% in the month of sale 45% in the month following sale 15% in the second month following sale 5% uncollectible C. Sales for February totaled 32,000 units and sales for March totaled 27,000 units. Use the in for mation in D-F to answer Part 2. DO NOT USE THE NUMBERS YOU COMPUTED IN PART 1: ASSUME THE FOLLOWING NFORMATON NSTEAD Assume that Harvest Oaks has correctly computed its expected cash receipts and disbursements, and correctly entered them into the cash budget in Part 2. D. E. Harvest Oaks' beginning balance of cash on April 1 is $450,000. F. Harvest Oaks wants to maintain a minimum cash balance of $400,000. The company has an agreement with a local bank that allows the company to borrow money in any increment at the beginning of each month. The interest rate on these loans is 1% per month simple interest (i.e., not compounded). The company would, as far as it is able, repay any loans plus accumulated interest at the end of the quarter