Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2019: May $318,000 $298,000 $358,000 April June Credit sales Credit purchases 126,000 149,000 174,000 Cash disbursements Wages, taxes, and 43,800 11,300 62,800 expenses 10,800 10,800 10,800 Interest Equipment purchases 78,000 146,000 0 The company predicts that 5 percent of its credit sales will never be collected, 20 percent of its sales will be collected in the month of the sale, and the remaining 75 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase In March 2019, credit sales were $188,000, and credit purchases were $128,000. Using this information, complete the following cash budget. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) April May June Beginning cash balance 121,000 Cash receipts Cash collections from credit sales Total cash available Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance