Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2020:

	April			May			June
Credit sales	$	311,000		$	291,000		$	351,000
Credit purchases		119,000			142,000			167,000
Cash disbursements
Wages, taxes, and expenses		43,100			10,600			62,100
Interest		10,100			10,100			10,100
Equipment purchases		71,000			132,000			0

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 2020, credit sales were $181,000, and credit purchases were $121,000. Using this information, complete the following cash budget. (Do not round intermediate calculations.)

	April	May	June
Beginning cash balance	$114,000
Cash receipts
Cash collections from credit sales
Total cash available
Cash disbursements
Purchases
Wages, taxes, and expenses
Interest
Equipment purchases
Total cash disbursements
Ending cash balance