• Here are some important figures from the budget of Blocher, Inc., for the second quarter of 2013.

• The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.

• In March 2013, credit sales were $390,000. Using this information, complete the following cash budget: